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U.S. employment data fell short of expectations, leading to increased market anticipation of a rate cut by the Federal Reserve in June. According to RTHK, this development caused both the U.S. dollar and Treasury yields to decline. The dollar index decreased by 0.2%, closing at 98.85, although it rose over 1% for the week.

On Friday, the euro appreciated by approximately 0.1% against the dollar, while the British pound increased by 0.4%. The dollar also gained 0.1% against the Japanese yen. The yield on the U.S. 10-year Treasury note briefly fell by more than 4 basis points to 4.105%, while the more rate-sensitive 2-year Treasury yield dropped by 8 basis points to 3.519%. Both yields later narrowed their declines, settling around 4.13% and 3.55%, respectively.

Some traders are starting to compare the current $BTC market structure with what we saw during the 2022 cycle. On higher timeframes, the chart is showing a pattern where price keeps forming higher lows while struggling near a rising resistance line. At the same time, momentum appears to be slowly weakening.

This kind of structure often resembles a rising wedge, which in the past has sometimes led to a downside move once support breaks. In the previous cycle, Bitcoin reached the $69K area before the market eventually corrected deeply toward the $15K region.

In the current cycle, BTC previously peaked near the $126K zone, and some analysts believe the structure developing now looks somewhat similar. Momentum indicators like RSI are also showing signs that the upward strength may be slowing.

Because of this, some market observers are closely watching the $50K–$55K range as a potential liquidity zone where stronger buying interest could appear if the market pulls back.

Of course, chart structures only provide hints about possible outcomes. Real confirmation always comes from how price reacts at key support and resistance levels.