PANews reported on June 5th that according to The Block, as Bitcoin price fluctuates around $105,000, Bitfinex analysts pointed out that if Friday's US employment report shows a slowdown in the labor market, with expected new non-farm employment between 125,000 and 130,000, lower than April's 177,000, it might prompt the Federal Reserve to cut rates early, potentially boosting Bitcoin to the $120,000-$125,000 range. Conversely, if employment data is strong, Bitcoin price may fall to around $95,000.
Meanwhile, BRN's chief research analyst Valentin Fournier holds a pessimistic view, believing that bearish signals are continuously accumulating, including decreased ETF fund inflows, weakening momentum, and surging crypto IPOs, indicating potential profit-taking in the market. He noted that Circle and Kraken's financing and IPO plans suggest crypto companies are leveraging high valuation windows, potentially signaling future growth slowdown. Additionally, US spot crypto ETF fund inflows have decreased, with both Bitcoin and Ethereum ETF inflows significantly dropping, accompanied by price declines. Fournier believes this indicates market momentum exhaustion and recommends reducing risk exposure and shifting to defensive strategies.
