Although many institutions are currently buying BTC at the bottom, there is strong selling pressure around the 95000 level, preparing to take the opportunity to sell. The Federal Reserve has not yet cut interest rates, so a breakthrough is unlikely.
Yesterday, Federal Reserve Governor Waller revealed that with the rising unemployment rate, interest rate cuts may begin. Watch the CPI, unemployment rate, and non-farm data in the coming weeks. If inflation shows a decline and the unemployment rate rises, a rate cut in June is definitely on the table, and BTC going to 120,000 is not a big problem.
