Bitcoin is currently trading near $122,000, consolidating after an unsuccessful attempt to surpass $124,000. On-chain data reveals a $39.5 million outflow, suggesting light accumulation by investors. Former PayPal president David Marcus has forecasted that Bitcoin could reach as high as $1.3 million. Meanwhile, prediction market Polymarket assigns a 79% probability that Bitcoin will hit $130,000 by the end of the year. The cryptocurrency remains above a crucial support level at $118,587, with a breakout above $124,000 considered a bullish indicator.