Bitcoin price compression will spark expansion: Will BTC explode toward $120K?

Bitcoin is currently experiencing a price compression phase, with sellers limiting movements above $112,000 while buyers support dips to $107,000 to $108,000. Although some analysts express concern about the inability to maintain higher prices, the formation of higher lows and lower highs suggests possible bullish momentum ahead. This consolidation is expected to lead to significant price expansion, particularly supported by recent ETF inflows and increased spot accumulation by both retail and institutional investors. As BTC nears the end of October, macroeconomic events in the US are anticipated to resolve some market fears. The Bitcoin Accumulation Trend Score is close to 1, indicating a general trend of accumulation rather than distribution among larger entities. Analysts predict that this range consolidation may soon come to an end, potentially paving the way for Bitcoin to reach the $120,000 zone.

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