JPMorgan analysts have stated that despite short-term sentiment being under pressure, Bitcoin is more attractive in the long term compared to gold, as its volatility structure suggests that the potential price could reach $26,600. The report noted that since October of last year, gold has significantly outperformed Bitcoin, but the rise in gold price volatility, along with the drop in Bitcoin's volatility relative to gold to a historic low of about 1.5, makes Bitcoin more favorable after risk adjustment. This target is believed to be unsuitable for this year, but after the reversal of negative sentiment, it reflects the upside potential of Bitcoin as a long-term hedge asset.