PANews June 5 news, according to The Block, as Bitcoin prices fluctuate around $105,000, Bitfinex analysts point out that if the U.S. employment report released on Friday shows a slowdown in labor market growth, the number of new non-farm jobs is expected to be between 125,000 and 130,000, lower than April's 177,000, which could prompt the Federal Reserve to cut interest rates earlier, boosting Bitcoin to the range of $120,000 to $125,000. Conversely, if the employment data is strong, Bitcoin prices may fall back to around $95,000.
At the same time, BRN's chief research analyst Valentin Fournier holds a pessimistic view, believing that bearish signals are continuously accumulating, including a decrease in ETF inflows, weakening momentum, and a surge in cryptocurrency IPOs, indicating profit-taking in the market. He points out that the financing and IPO plans of Circle and Kraken suggest that cryptocurrency companies are taking advantage of the overvaluation window, signaling potential future growth or slowdown. Additionally, the inflow of funds into U.S. spot cryptocurrency ETFs has decreased, with significant declines in Bitcoin and Ethereum ETF inflows, and prices have also fallen. Fournier believes this is a sign of exhausted market momentum, advising a reduction in risk exposure and a shift to defensive strategies.
