Analysts: Bitcoin could reach $115,000 in July, but US employment data could pose a hurdle
Analysts from Bitfinex told Cointelegraph that Bitcoin could surge next month if US employment data turns out to be weaker than expected. Analysts: Bitcoin could reach $115,000 in July, but US employment data could pose a hurdle MARKET NEWS Bitcoin could rise to new all-time highs above $115,000 next month if institutional buying continues and US employment data is 'weaker than expected,' according to analysts.
'In a bullish scenario, driven by strong institutional interest and ETF inflows, Bitcoin could reach $115,000 or more in early July,' analysts from Bitfinex told Cointelegraph.
Bitcoin's pullback raises 'some concern,' but sentiment remains high
Bitcoin ETFs BTC €92,014 in the spot market in the US had a strong May, recording about $5.24 billion in inflows, according to data from Farside.
Bitcoin had risen during the month to a peak of $111,970 on May 22 but has since retraced to $104,823 at the time of publication, according to CoinMarketCap.
Analysts from Bitfinex said that although the pullback 'has caused some concern, investors still feel optimistic.'
Market sentiment also remains strong, with the Crypto Fear and Greed Index, which tracks sentiment, recording a 'Greed' score of 57 out of 100.
Cryptocurrencies, Bitcoin Price, Markets Bitcoin has risen 11.51% in the last 30 days. Source: CoinMarketCap The US Bureau of Labor Statistics is scheduled to release a monthly US employment report on June 6.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.
