Bitcoin expected to surpass $115,000 next month, but U.S. employment figures remain a variable

If the June US employment report comes out weaker than expected, Bitcoin could surpass its all-time high of $115,000 by early July, a forecaster said.
According to Cointelegraph on the 4th (local time), a Bitfinex analyst said,
In a media interview, they said, "If institutional investors' buying momentum and ETF inflows continue, Bitcoin could surge to more than $115,000 in early July."
During the month of May, the US Physical Bitcoin ETF performed well, recording net inflows of approximately $5.24 billion, which pushed Bitcoin to 111,970 on May 22.
However, it has since continued to adjust and as of 3:05 p.m. on the 5th, it has fallen to 104,703 dollars (approximately 14.98 million yen).
Bitfinex said, "While the correction has created some concern, overall investor sentiment remains positive."
In fact, the cryptocurrency fear greed index remains in the "greedy" state with a score of 57 out of 100. The US Department of Labor's employment report to be released on June 6th will be an important variable for Bitcoin prices.
This is expected to have an impact on the Federal Reserve's interest rate decisions, which will ultimately have a direct impact on investment sentiment towards Bitcoin, a risky asset.
"If employment data beats expectations, interest rate cuts could be delayed and the dollar could strengthen, which could put downward pressure on Bitcoin," Bitfinex said.
On the other hand, if the employment results turn out to be weaker than expected, the Fed could accelerate interest rate cuts while reinforcing the "disinflation" scenario, which could have a negative impact on the business.
"If the jobs report proves bullish, it will be a strong positive for Bitcoin," he added. Bitfinex said it expects Bitcoin to reach support at or below $102,000.
In particular, there is a possibility of a decline below the psychological support level of $100,000, and in that case, strong buying could occur in the $95,000 to $97,000 range.
The last time Bitcoin traded in the $97,000 range was on May 7, and this range is analyzed as an area where technical selling was concentrated.
Previously, many crypto experts had predicted that June would be the month Bitcoin would reach its declared price.
"The market is looking forward to Bitcoin's rise in speed," Jamie Coutts, chief analyst at Il Vision, said in an interview with Cointelegraph on March 28.
"We are underestimating the impact of this," he said, hinting at the possibility of setting a new record before the end of the second quarter.