On June 5, news from TheBlock reported that as Bitcoin prices fluctuate around $105,000, Bitfinex analysts pointed out that if the U.S. employment report released on Friday shows a slowdown in labor market growth, with new non-farm jobs expected to be between 125,000 and 130,000, down from 177,000 in April, this could prompt the Federal Reserve to cut interest rates earlier, thereby boosting Bitcoin to the range of $120,000 to $125,000.
Conversely, if employment data is strong, Bitcoin prices may fall back to around $95,000.
Meanwhile, BRN Chief Research Analyst Valentin Fournier holds an pessimistic view, believing that bearish signals are accumulating, including reduced ETF inflows, weakening momentum, and a surge in cryptocurrency IPOs, indicating that there is profit-taking in the market.
He pointed out that the financing and IPO plans of Circle and Kraken suggest that cryptocurrency companies are taking advantage of a window of high valuations, indicating that future growth may slow down.
Additionally, inflows into U.S. spot cryptocurrency ETFs have decreased significantly, with inflows into both Bitcoin and Ethereum ETFs also dropping sharply, leading to a decrease in prices.
Fournier believes this is a sign that market momentum is exhausted and recommends reducing risk exposure and shifting to defensive strategies.
