Will Bitcoin Price Surge to $120K as Market Conditions Tighten?

Key Points:

Inflows into Bitcoin ETFs and spot purchases show a strong belief in Bitcoin’s undervaluation.
The upcoming events on the US macroeconomic calendar could address several fears holding back crypto prices.

Bitcoin (BTC) traders found themselves in a stalemate this week, with sellers preventing breakouts above $112,000 while buyers defended dips down to the $107,000-$108,000 range. Some analysts worry about Bitcoin’s struggle to maintain its position above $112,000, yet the observed price compression could be a promising indicator.

Traders note that “compression often precedes expansion” as market volatility decreases, indicating potential for significant movement after a major event, such as the October 10 sell-off, during which Bitcoin’s open interest fell by 50%.

BTC/USDT four-hour chart. Source: TradingView

There are underlying trends suggesting that Bitcoin could reach the $120,000 mark again soon. Recently, Bitcoin ETFs attracted $477 million in investments, with BTC jumping to $114,000 from $107,500 during trading.

Related: Price Predictions 10/24: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, HYPE, LINK, XLM

Data reveals that spot buyers were active across various order sizes on platforms like Binance and Coinbase, engaging throughout the entire range from $101,500 to this week’s peak of $114,000.

BTC/USDT spot and futures cumulative volume deltas. Source: Hyblock

Currently, the Bitcoin Accumulation Trend Score from Glassnode sits at 0.924. This metric implies that a trend score closer to 1 signifies accumulation by larger entities, while a lower score suggests distribution.

Bitcoin accumulation trend score metric reads 0.924. Source: Glassnode

Many analysts believe that Bitcoin’s range consolidation may conclude early next week, potentially giving altcoins a chance to rally as significant events from the US macroeconomic calendar approach.

“We have seen capitulation, and it seems everyone thinks we won’t see an alt-season. However, remember:

The end of quantitative tightening is near
Gold is entering a distribution phase
The macro landscape is stabilizing
The probability of a US-China deal is over 60%
$7.4 trillion in money market funds are expected to flow back into the market as the Fed…” — Negentropic (October 24, 2025)

This content is for informational purposes only and should not be considered financial or legal advice. The opinions expressed here do not necessarily reflect the views of Cointelegraph.