Bitcoin is gearing up for a potential breakout, with analysts eyeing a surge to $120,000. Following a recent 10% dip from its $108,300 peak, optimism is fueled by stablecoin reserves on Binance nearing an all-time high of $45 billion. Analysts suggest that Bitcoin could hit a local top above $120,000 in January, driven by renewed investments and optimism. However, profit-taking might trigger corrections. Key factors to watch include Bitcoin ETF inflows, US stock market performance, and upcoming FTX repayments. Despite challenges, analysts remain bullish on Bitcoin's future trajectory.