Bitcoin Price Forecast: $112K Target Hinges on Fed’s Next Move

Bitcoin Price Forecast – Crypto Markets Brace for June 6 Jobs Report—Here’s What to Watch

Bitcoin Price Forecast – Bitcoin could surge back toward $112,000 if the U.S. Federal Reserve cuts interest rates earlier than expected, according to CMC Markets analyst Carlo Pruscino. The potential for an early pivot in monetary policy could become a key bullish catalyst for the cryptocurrency market, especially for Bitcoin (BTC).

“When these two further rate cuts come, if they’re coming a lot sooner than expected, that will then impact heavily on the future price moves of crypto—on Bitcoin and some other cryptos as well,” Pruscino told Cointelegraph.

Bitcoin briefly hit an all-time high of $111,970 on May 22, but has since retraced to $102,766, as per CoinMarketCap data. According to Pruscino, the $112,000 level now serves as a crucial psychological resistance point. Traders are closely watching for macroeconomic catalysts to drive a breakout above this level.

Fed Policy and Tariff Uncertainty in Focus

The Federal Reserve’s next policy decision is scheduled for June 18, and markets are widely expecting no change to the current rate of 4.25%–4.50%, with the CME FedWatch Tool showing a 97.5% probability of a hold. However, Pruscino believes the Fed already has “enough data” to justify a cut—pending clarity on U.S. tariff policy.

The ongoing impact of former President Donald Trump’s tariffs remains an “unknown factor.” While the U.S. Court of International Trade blocked Trump’s tariffs on May 28, an appeals court reinstated them, and Trump has since doubled tariffs on steel and aluminum to 50%.

June Jobs Report: A Pivotal Data Point

The U.S. jobs report, due June 6, could play a decisive role. A strong print—250,000 jobs or more—may cause the Fed to delay rate cuts, cooling bullish momentum in risk assets like Bitcoin.

“If you get a large number of, say, plus 250,000 jobs, then that’ll be a slight surprise to the markets,” Pruscino noted, “and that will then lead the markets to think the Fed may further delay their rate cuts this year.”

Market participants remain cautious, but a combination of weaker economic data, improved risk sentiment, and earlier-than-expected Fed cuts could reignite Bitcoin’s rally above the $112,000 psychological level.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.