JPMorgan's latest research report reveals that Bitcoin's six-month rolling volatility has dropped to a historic low of about 30%, down from nearly 60% at the start of the year. This decrease brings Bitcoin's volatility closer to that of gold, now only twice as volatile, marking the lowest ratio in history. The report suggests that this reduced volatility enhances Bitcoin's appeal for institutional investors. To align with gold's $5 trillion private investment scale, Bitcoin's market value would need to increase by 13%, reaching approximately $126,000. JPMorgan's model indicates that Bitcoin is currently undervalued by about $16,000 compared to gold, suggesting potential for a price increase.