According to the source, a third-party social media post claims JPMorgan analysts forecast Bitcoin could reach 165,000 dollars by end-2025 due to undervaluation versus gold and rising spot ETF inflows, but no underlying JPMorgan research note is provided, so the target remains unverified, source: third-party social post, original JPMorgan Global Markets Research note not furnished. Traders should await an official JPMorgan client publication or public commentary before anchoring price targets to this claim, source: JPMorgan Research publication standards and prior client note practices. To validate the inflow thesis, monitor daily creations and redemptions for US spot Bitcoin ETFs via issuer disclosures and independent trackers, source: BlackRock iShares Bitcoin Trust daily basket files, Fidelity Wise Origin Bitcoin Fund pages, and Farside Investors spot Bitcoin ETF flow dashboard. Cross-check BTC-to-gold valuation by comparing BTC market value with investable gold estimates using established benchmarks, source: CF Benchmarks CME CF Bitcoin Reference Rate and LBMA Gold Price. Confirm risk appetite with market microstructure and derivatives metrics such as CME futures basis and funding rates on major venues, source: CME Bitcoin futures term structure data and public metrics from leading derivatives exchanges.