BTC Price Outlook: $115K Possible If Job Data Disappoints

BTC Price Outlook- Analysts Predict $115K BTC on Weak Jobs Data

BTC Price Outlook– Bitcoin may be on track to hit new all-time highs above $115,000 as early as next month, according to analysts at Bitfinex, especially if institutional buying remains strong and U.S. labor market data underperforms.

In a bullish scenario, driven by strong institutional interest and ETF inflows, Bitcoin could touch $115,000 or higher by early July.

ETF Inflows and Market Sentiment Stay Strong

U.S. spot Bitcoin ETFs saw substantial momentum in May, with net inflows of approximately $5.24 billion, based on data from Farside Investors. Bitcoin surged to a monthly high of $111,970 on May 22 before pulling back to around $104,823 at the time of writing, per CoinMarketCap.

Despite the retracement, analysts at Bitfinex note that “investors still feel optimistic.” Market sentiment remains positive, as reflected in the Crypto Fear and Greed Index, which currently reads 57—classified as “Greed.”

Upcoming Jobs Report May Be a Key Trigger

All eyes are on the U.S. jobs report, scheduled for release on June 6. The data is expected to significantly influence Bitcoin’s short-term direction, given its impact on interest rate expectations from the Federal Reserve.

A stronger-than-expected report might delay rate cuts, strengthening the dollar and possibly exerting downward pressure on Bitcoin.

On the other hand, weaker job data could support a more dovish monetary policy, potentially giving Bitcoin another bullish push.

Downside Risk: Testing $100K Support

If job data shows a strong labor market, Bitcoin could test support levels around $102,000 or even drop to the $95,000–$97,000 range, where analysts say accumulation may occur.

The report’s outcome will be pivotal for lower timeframe traders but will only be a smaller piece of a larger puzzle.

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.