Is Bitcoin's Correction Over? Analysts Pointed to This Price Level! Here Are the Details

Bitcoin’s bullish momentum is gaining momentum as investors eye a return to $109,000 as Donald Trump takes office and expectations of a resurgence in spot Bitcoin exchange-traded funds (ETFs) grow. Bitcoin Investors Target $109K as Trump Inauguration Sparks Optimism, ETFs See Record Inflows The cryptocurrency has surged 10% in the past week, climbing above $102,000 on Monday and recouping almost all of its losses from the December crash. Bitcoin had fallen from a peak of $109,000 on Dec. 17 to a low of $92,000 on Dec. 30, temporarily raising concerns of a deeper correction. According to SoSoValue data, $987 million inflows into U.S.-listed spot Bitcoin ETFs on Monday marked the highest daily total since Nov. 21. Fidelity’s FBTC led the way with $370 million, followed by BlackRock’s IBIT ($209 million) and Ark Invest’s ARKB ($71 million). Nine out of twelve Bitcoin ETFs saw inflows and none saw outflows, signaling renewed investor confidence. Investors are bullish on potential crypto-friendly policies under Trump that are expected to boost Bitcoin and other digital assets. That optimism coincides with a broader recovery in financial markets as investors return from vacation. “We are seeing a resurgence of Bitcoin demand after the lackluster Fed outlook dampened a potential Santa Claus rally,” said BTSE COO Jeff Mei. “With investors returning to their desks, Bitcoin and crypto assets are showing bullish trends heading into Trump’s inauguration.” Technical Analysis: Is the Correction Complete? Some analysts suggest that Bitcoin’s recent price action is in line with a completed correction, paving the way for further gains. “Bitcoin’s recovery from the 61.8% Fibonacci retracement level suggests the correction is over,” said Alex Kuptsikevich, chief market analyst at FxPro. “If the all-time high of $109,000 is breached, we could see growth accelerate.” Fibonacci levels are a technical tool used to predict potential price support and resistance levels. Traders often view these levels as important signals for price action. Market volatility is expected to remain subdued ahead of Friday’s U.S. Nonfarm Payrolls (NFP) report, a key economic indicator. Strong NFP data could strengthen the U.S. dollar and put pressure on riskier assets like Bitcoin. *This is not investment advice. Continue Reading: Is Bitcoin's Correction Over? Analysts Pointed to This Price Level! Here Are the Details