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Bitcoin could still see a correction of up to 30% during its uphill battle to conquer the six-figure price tag for the first time.
The Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BTC</a>) price is currently down over 7% from its all-time high of around $99,800, breached on Nov. 22, Cointelegraph data shows.
<figure><img alt="Bitcoin 30% correction in play ahead of $100K BTC rally — Analysts" src="https://s3.cointelegraph.com/uploads/2024-11/01936d6d-6b0c-7566-8fde-5a802d0b3906" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-week chart. Source: Cointelegraph
 </figcaption>
</figure>
While most analysts agree that topping $100,000 is only a matter of time, some analysts expect a deeper retracement before the milestone high.
Bitcoin could correct as deep as 30% before resuming its bullish run, according to Ryan Lee, the chief analyst at Bitget Research. The analyst told Cointelegraph:
<blockquote>
 “In its bid to cross the psychologically important $100,000 price level, investors will need to deal with intense corrections. Historical data trends show that Bitcoin may still correct as much as 30% before it reaches its cyclical top.”
</blockquote>
While historical chart patterns aren’t always accurate in predicting future price action, a potential 30% correction from $99,800 would hypothetically tank Bitcoin price below $70,000.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/micro-strategy-30-b-biggest-4-day-drop-bitcoin-fell-7-99-8k" rel="noopener noreferrer nofollow" target="null" text="null" title="null">MicroStrategy wipes $30B in biggest 4-day drop amid Bitcoin correction</a>
<h2 id="bitcoin-breaching-100-000-is-only-a-matter-of-time-and-etf-inflows">Bitcoin breaching $100,000 is only a matter of time, and ETF inflows</h2>
While temporary corrections are an organic part of crypto bull markets, most analysts don’t expect the current correction to be long-lived.
This is because Bitcoin is set to surpass the $100,000 valuation in the short term, according to Anndy Lian, author and intergovernmental blockchain expert.
He told Cointelegraph:
<blockquote>
 “Bitcoin reaching $100,000 isn’t just a milestone; it’s a testament to the growing trust in decentralized finance and the relentless pursuit of financial sovereignty. As global adoption accelerates and institutional interest deepens, the $100,000 mark symbolizes not just a price, but a paradigm shift in how we perceive and utilize money.”
</blockquote>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-nears-1m-daily-addresses-price-chases-100k" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Bitcoin nears 1M daily active addresses as price chases $100K</a>
Sluggish investments in the United States spot Bitcoin exchange-traded funds (ETFs) have also contributed to Bitcoin’s price slump.
United States-based spot Bitcoin ETFs logged two days of net negative outflows, with net cumulative outflows of over $122 million on Nov. 26, Farside Investors data <a data-ct-non-breakable="null" href="https://farside.co.uk/btc/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">shows</a>.
<figure><img alt="Bitcoin 30% correction in play ahead of $100K BTC rally — Analysts" src="https://s3.cointelegraph.com/uploads/2024-11/01936d6c-2b47-7f51-bce9-f4865a32f25b" title="">
 <figcaption style="text-align: center;">
 Bitcoin ETF Flow (USD, million). Source: Farside Investors
 </figcaption>
</figure>
While slowing ETF inflows are common at the end of the month, a resurgence in ETF buying will help catalyze Bitcoin’s next leg up, according to Bitfinex analysts, who told Cointelegraph:
<blockquote>
 “Now that ETF flows appear to have hit a bump in the road and MicroStrategy purchases seem to have paused, it is quite normal for the price to undergo some correction and seek out a new supply-demand equilibrium as marginal buying ends.”
</blockquote>
While Bitfinex analysts expect a correction of up to 20%, the analysts are confident that MicroStrategy’s latest&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/micro-strategy-to-sell-2-6-b-in-notes-increasing-from-1-75-b-to-fund-bitcoin-purchases" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/news/micro-strategy-to-sell-2-6-b-in-notes-increasing-from-1-75-b-to-fund-bitcoin-purchases">$2.6 billion note sale</a> and renewed ETF buying will bolster cryptocurrencies to new all-time highs leading into 2025.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-90k-forecast-crypto-trader-solana-etf-filings-hodlers-digest/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Is Bitcoin heading back to $90K? Solana ETFs, and more: Hodler’s Digest, Nov. 17 – 23</a>

Bitcoin 30% correction in play ahead of $100K BTC rally — Analysts

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