Bitcoin's path to the key level of $100,000 has encountered obstacles due to the liquidation of longs by $430 million and growing concerns about inflation data and the Fed minutes, which are expected on November 27, according to experts from CryptoQuant. There is also a significant outflow of funds from the BTC-ETF, amounting to $438 million.

The situation could be complicated by the holiday break in the United States associated with Thanksgiving on November 28.

Analysts believe that the key event that influenced the current situation was the purchase of 55,500 BTC by MicroStrategy for $5.4 billion, which became a trigger for a change in market sentiment.

Experts note that the market has now switched to put options, signaling a pause and a decrease in implied volatility. According to CryptoQuant CEO Ki Yoon Joo, the current correction cannot be considered excessive. Bitcoin is only rolling back to the levels of the previous week.

“The market was overloaded after the elections due to high leverage, which inevitably led to a pause,” he emphasized, adding that even during periods of parabolic growth, Bitcoin is prone to 30% rollbacks, as happened in 2021.

CryptoQuant CEO advises investors to avoid panic and manage risks by not selling at local lows. Analysts noted that the current profit-taking pressure remains below the peak level observed after the all-time high in March, which leaves room for further growth.

If the momentum continues, the Bitcoin rate may reach $100,000 amid FOMO demand, experts predict. However, as FalconX previously warned, the initiatives of the bulls may weaken.