[JPMorgan: Whether Strategy Can Hold On May Be Key to Bitcoin's Short-Term Trend] According to The Block, JPMorgan analysts stated that Strategy (formerly MicroStrategy) maintaining its Bitcoin holding valuation ratio above 1 and avoiding forced BTC sales is critical to determining Bitcoin's short-term price trend. The analysis pointed out that although miners face selling pressure due to high production costs, MSTR holds $1.44 billion in cash reserves, sufficient to cover debt payments for the next two years, reducing the risk of sell-offs. Additionally, the bank maintains a mid-term theoretical target price for BTC at approximately $170,000.