Bitcoin may be poised for a significant rebound towards $120,000, supported by record high stablecoin reserves at Binance, which recently surpassed $44.5 billion. Analysts predict that as Bitcoin strives to recover from a recent drop following its all-time high of $108,300, it could peak above $120,000 in January, particularly influenced by market sentiment around the inauguration of President-elect Donald Trump. Additionally, a potential January effect could drive renewed investments, although profit-taking might prompt market corrections. Key factors to watch include spot Bitcoin ETF inflows, the US stock market's performance, and upcoming FTX repayments. The significant level of stablecoin reserves at Binance signifies potential buying pressure as these funds represent a crucial investor on-ramp from fiat to cryptocurrency. However, Bitcoin faces critical resistance levels above $95,000 and $96,400 that, if surpassed, could trigger liquidations of substantial leverage short positions across exchanges. With optimism about Bitcoin's trajectory for 2025 also in the air, analysts remain hopeful about its future price movements.

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