Bitcoin's Price Compression Might Lead to a Surge: Is a Jump to $120K on the Horizon?
Bitcoin's fluctuating price may soon shift dramatically due to current market conditions and upcoming macroeconomic events.
Bitcoin sellers have placed a ceiling at $112,000, but current technical data and onchain metrics combined with the end of October’s US economic events suggest that this period of price stability could precede a significant price increase.
Key Highlights:
- Inflows into Bitcoin ETFs and accumulation by both retail and institutional investors indicate strong belief that Bitcoin prices are currently undervalued.
- Upcoming economic calendar events in the US may address several fears that have been negatively affecting cryptocurrency prices.
Traders engaged in Bitcoin were conflicted this past week as sellers capped breakout attempts at $112,000 while buyers defended price dips between $107,000 and $108,000. Despite concerns regarding Bitcoin’s frequent returns to lower price ranges, the day-to-day price dynamics may hint at a forthcoming upward movement.
Technical analysts often cite the phrase “compression before expansion,” suggesting that as volatility decreases and price consolidates following significant market movements, a stronger shift is possible. This was evident in Bitcoin’s recent major sell-off, resulting in a 50% drop in open interest.
Recent events highlight positive market behaviors, as spot Bitcoin ETFs attracted $477 million shortly before prices rose from $107,500 to $114,000.
Related Topics: Price predictions 10/24: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, HYPE, LINK, XLM
Furthermore, data reveals that buyers across various order sizes on platforms like Binance and Coinbase have kept purchasing across a price range from $101,500 to the peak of $114,000 this week.
According to Glassnode’s Bitcoin Accumulation Trend Score metric, the score now stands at 0.924, implying a general trend of accumulation among larger market players.
Many analysts suggest that Bitcoin’s price consolidation could likely end soon, and that the performance of altcoins might improve as US economic events unfold.
“We have had capitulation; everyone thinks there will be no alt-season. Let us remind everyone that:
- QT will end
- Gold is in a distribution phase
- The macroeconomic landscape is stabilizing
- The likelihood of a US-China deal is above 60%
- $7.4 Trillion in money markets are poised to enter the market as the Fed transitions.”
— Negentropic (@Negentropic_) October 24, 2025.
