Bitcoin could reach new all-time highs above $115,000 by early July if US job data is weaker-than-expected and institutional buying continues. Analysts from Bitfinex indicated that while a strong jobs report might delay potential rate cuts by the Federal Reserve, placing downward pressure on Bitcoin, a weaker report could bolster the narrative for disinflation and prompt the Fed to consider cutting rates sooner, benefiting Bitcoin's price. Currently, Bitcoin has pulled back to $104,823 after peaking in May at $111,970. Market sentiment remains optimistic despite these fluctuations. If the job report shows a stronger labor market than expected, Bitcoin may test support levels around $102,000. The upcoming jobs data, set to release on June 6, will be critical for traders, as its outcome might significantly influence Bitcoin's trading trajectory in the future.

Source đź”—