While your prediction is highly possible, however there are certain market factors that would determine how bitcoin price moves in the market. There are price patterns that will become a good basis in its price prediction, but there are also sudden market trends and events that will dictate its price.
In general, no one can create specific future price of bitcoin, but everyone is free to predict and speculate bitcoin price regardless of what factor will influence its price movement.
Of course and this is very natural, everyone has their own opinions and views and as you said in the first point above, the decline in BTC in the near future is 5% from 106K to 100K and this is inseparable from the interest rate cut again by the fed but there is another thing that makes the market shake quickly, namely BTC is still not a reserve by law from what I noticed from Powell's speech quote. But I'm sure BTC at a price of 120k will come early in 2025.
We are now in early 2025 and there are no signs that the price of Bitcoin will increase drastically, even though there have been some price corrections, although they are not significant, I have the same belief as you that in the near future, in early 2025, the price of Bitcoin will be able to increase drastically and a price of 120k is quite possible and I am very optimistic about that.
It show that the price of Bitcoin will not get to that stage before the bearish season will take place from the market, because the price is still between $93,000 and $94,000 which is a sign of decrease. If you look at the market price in this new year 2025, you will see that the price of Bitcoin have not reach $110,000 which it will be difficult for holders to experience $120,000 in this year and any moment from now,bearish season will take place. Even though there will be bullish season in this 2025, the price of Bitcoin will not increase above $108,000 before bearish season will start displaying.