Bitcoin Outlook and Institutional Momentum

Last week, Bitcoin surpassed Amazon with a market cap of $2.4 trillion, becoming the 5th largest asset in the world — and continues to maintain its strong momentum.

At the start of the week, Bitcoin’s price surged above $122,000 and reached an all-time high of nearly $123,000 by Monday morning. This pushed its market capitalization to $2.4 trillion, overtaking tech giants like Amazon and Google. However, by midweek, the price slightly retreated to around $118,000.

This week, Bitcoin quietly marked another milestone. For the first time, its ‘realized cap’ — the total amount of real money investors have voluntarily parked in BTC — exceeded $1 trillion.

Alongside growing interest from individual investors, institutional players are continuing to invest in Bitcoin and integrate the asset into their business models at an increasing pace.

JPMorgan Chase Exploring Bitcoin and Ethereum-Backed Loans

JPMorgan Chase is evaluating a new loan product that would allow clients to use Bitcoin, Ether, and other approved digital assets as collateral. This service could launch as early as 2026, pending regulatory approval. In addition to crypto-backed loans, the bank is exploring the possibility of extending credit against crypto ETF holdings. However, key details — such as which assets will be eligible — remain unclear.

Despite JPMorgan CEO Jamie Dimon’s previously expressed concerns about the compatibility of Bitcoin with core banking operations, the bank has affirmed its support for client access to crypto. While it continues offering custodial services through its partners, the bank currently has no plans to offer direct crypto custody itself.

This development follows shortly after the passage of the GENIUS Act — a new law that establishes a federal framework for stablecoins and strengthens the legal foundation for more flexible crypto regulation, initially proposed during the Trump administration.

The adoption of U.S. spot Bitcoin ETFs by institutional investors has contributed to strong capital inflows exceeding $16 billion in recent weeks. In addition, high market liquidity and expectations of a rate cut by the Federal Reserve have created a favorable environment for Bitcoin.

Some analysts predict that, if ETF demand continues and regulatory uncertainties diminish, Bitcoin could reach $150,000 by year-end. However, the strength of this macro-driven rally may depend not only on institutional capital but also on renewed retail investor participation. Ether is also showing bullish signals, trading above $3,400 as of Thursday afternoon.