TL;DR:

Bitcoin is trading below its $77,000 production cost, establishing a structural floor by pressuring inefficient miners.

The “Digital Asset Market Clarity Act” in the U.S. will act as the ultimate catalyst to unlock large-scale institutional capital.

JPMorgan reiterates a long-term price target of $266,000 for Bitcoin based on volatility comparisons with gold.

The recent volatility that drove Bitcoin toward the $60,000 range is not the end of the cycle; rather, it is the beginning of a profound transformation. A report from JPMorgan reveals that the crypto market to enter “self-correction” phase is a necessary step to establish a solid and lasting foundation for the coming year.

We are witnessing an adjustment process evidenced by the fact that the current price sits below the estimated production cost, now set at $75,000 to $77,000. This situation is unsustainable in the long run, as it forces less efficient miners to exit the network, ultimately creating a firm market floor for investors.

Unlike previous years marked by retail-driven rallies, the financial institution anticipates that the 2026 rebound will be structural. The maturation of the ecosystem will allow capital flows to become more stable, moving away from pure speculation and toward institutional mandates.

Regulation and Asset Rotation: The Pillars of Recovery

Regulatory clarity is the cornerstone of this trend shift, fueled by legislative proposals such as the Digital Asset Market Clarity Act in the United States. These rules will eliminate legal uncertainty, finally allowing large funds and insurance companies to integrate cryptocurrencies into their diversified portfolios.

On the other hand, the growing instability of gold is triggering a highly interesting capital rotation toward digital assets. JPMorgan highlights that if precious metal volatility persists, Bitcoin will position itself as a superior defensive alternative, supporting their ambitious long-term price target of $266,000.

In summary, the firm observes that financial integration is reaching new levels through asset tokenization and the use of ETFs as collateral. Therefore, 2026 will not only be a year of price recovery but the moment when cryptocurrencies consolidate as a central piece of the global financial system.

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Filed under: News - @ February 13, 2026 11:29 pm