Bitcoin is experiencing a notable upward trend, with projections indicating it could reach $120,000 this year. Analysts suggest that a breakout is imminent, with Bitcoin currently consolidating around $82,890 after a dip from its all-time high of $109,000. Technical indicators signal a potential major upward move, particularly if Bitcoin surpasses the $85,000 mark, which could trigger a significant short squeeze. The U.S. central bank's balance sheet is also reportedly expanding, contributing to expectations of increased liquidity and potential asset inflation, which could further boost Bitcoin's price. Additionally, concerns surrounding the U.S. debt crisis are growing, with a projected $9.2 trillion of U.S. debt maturing or needing refinancing in 2025, prompting discussions about money printing and its implications for Bitcoin's value.