Bitcoin correction presents an opportunity for bargain purchases

Bitcoin quotes at the end of the trading session on Monday lost 3.5%, once again falling below the level of $100,000. Bitcoin hasn’t yet fixed at these peaks, but just the current pullback provides an opportunity to buy the main cryptocurrency at more favorable prices. Probably, traders have fixed part of the profit on long positions in anticipation of tomorrow's data on inflation in the United States for November. If the statistics don’t disappoint market participants, Bitcoin could quickly return to the level of 102,000.

According to Bloomberg, cash inflows into U.S. bitcoin ETFs have exceeded $10 billion since the presidential election. Thus, the total assets of these exchange-traded funds reached $113 billion. The inflow of liquidity was one of the main reasons for the November rally. The price of the main cryptocurrency has been rising for 6 consecutive weeks, which is the best result since 2021.

Jack Mallers, CEO of Strike, urges investors to prepare for significant changes over the next few years. Donald Trump's plans to create a strategic Bitcoin reserve could have a huge impact on the financial system in the U.S. and other countries. Mallers estimates that the first purchases of the main cryptocurrency by U.S. authorities could occur as early as Q1 2025. This will cause increased competition with other countries and push prices to even higher levels.

Mallers draws attention to the huge U.S. national debt of more than $36 trillion. Many countries face a similar problem, and previously the only way out of the situation was devaluation of national currencies. However, with the growing popularity of Bitcoin, many people are starting to think it could support the financial system recovery. The head of Strike believes that the main cryptocurrency could reach $250 thousand or even $1 million before the end of 2025.

While Bitcoin holds above the level of 91,000, the initiative in trading remains in the hands of the bulls. Their target in case of a new wave of growth will be the level of 102,000.

The following trading strategy could be suggested:

Buy BTCUSD near the level of 95,000. Take profit — 102,000. Stop loss — 91,000.