Analysis: Bitcoin struggles to break out of current range in absence of clear catalyst

PANews reported on June 4th that QCP Capital, a Singapore-based crypto investment institution, stated that an unexpected increase in job vacancies boosted market risk sentiment ahead of the critical employment data release on Friday, with the S&P 500 gradually approaching the psychologically important 6000-point mark. If the Non-Farm Payrolls (NFP) data remains stable, it will consolidate the Federal Reserve's claim about the labor market's resilience, further strengthening expectations that interest rates will remain unchanged. In terms of trade, the market remains cautious ahead of the anticipated US-Chinese leadership talks talks. Bitcoin's near-term volatility has eased, with spot prices stabilizing around $105,000; the 1-month implied volatility has dropped below 40. Bitcoin continues to trade within a range, with light positionsitiong and and normal uncertainty skand unclear market direction.ility. Its volatility curve tends to flatten, triggering speculative trading. Trading of September-expiring call options with a strike price of $price of $,130,000 indicates that some investors still have expectations for Bitcoin's rise in the third quarter. Looking the the third quarter may challenging.Iff-related impacts may to seep into macroeconomic data, while fiscal risks surrounding the "Build Back Better" (BBB) bill and debt ceiling could trigger market volatility market fluctuations. In the absence of clear catalysts, Bitcoin is unlikely to significantly break through its current range.