JPMorgan reiterates Bitcoin's long-term target price of $266,000

JPMorgan analysts stated that based on a comparison adjusted for volatility with gold, the long-term target price for Bitcoin is $266,000. The main reasons for the decline in hash rate are the severe winter storms in the U.S. and high-cost miners exiting the market, but signs of a hash rate rebound have been observed.

Despite short-term fluctuations, the JPMorgan team remains optimistic about the crypto market in 2026, expecting institutional investors to dominate market growth.