Bitcoin will return to 120K!!!

My judgment: yes

I will analyze from four aspects.

Technical Analysis (Short-term Daily Line/Support and Resistance Levels)
• The current price is around $114k , recently showing horizontal consolidation at a high level, with short-term fluctuations leaning upwards; if it can break above the $118k–$120k resistance with increased volume in the early session or on the daily close and expand trading volume, the probability of extending upward to $120k+ significantly increases. (Market reference). 

Macro/Funding Situation
• Institutional capital flow remains key: This month, there has been significant net inflow into spot Bitcoin ETFs (multiple mainstream reports have recorded positive inflows this week/month), indicating that institutional demand has not dried up. The inflow into ETFs can still provide buying support near high levels. ETF inflows are an important variable in driving up prices and maintaining upward momentum.
• Expectations for a Federal Reserve rate cut have increased (based on FedWatch and the prices of market interest rate futures). If the interest rate path becomes more accommodative, the relative attractiveness of risk assets (including Bit) will rise, which is beneficial for BTC impact $120k .

On-chain data / Market structure
• Net outflow/decrease from exchanges: Multiple on-chain data providers indicate that since October, the reserves of Bitcoin on exchanges have continued to decline, with major exchanges experiencing net outflows (or net inflows turning negative). This typically signifies long-term/institutional holding rather than selling, which is favorable for supply tightening and the prospect of price appreciation.

Market Sentiment and Leverage
• The current sentiment is "cautiously optimistic": media and communities are focusing on ETFs and macro events, with funds observing whether large buy orders will continue. If bulls can see "confirming trading volume" at key resistance levels (with ETFs + futures bulls working together), sentiment will quickly become more extreme and drive a rapid surge.

Key conclusion: There are currently three driving forces — sustained net inflows of Bitcoin spot ETFs, rising market expectations for Federal Reserve interest rate cuts, and on-chain signals of "reduced outflow to exchanges" — together forming the possibility of a short-term surge to $120,000. @Gate_Square #WillBTCHit120K