Analysts: Bitcoin Rally Toward $115K Hinges on Weaker U.S. Job Report
Bitcoin could hit new all-time highs above $115,000 as early as next month, according to analysts at Bitfinex—provided institutional buying momentum continues and upcoming U.S. job data falls short of expectations.
“In a bullish scenario, driven by sustained institutional interest and ETF inflows, Bitcoin could reach $115,000 or higher by early July,” Bitfinex analysts told Cointelegraph.
Institutional Flows Fuel Optimism
Despite a recent pullback from May’s peak of $111,970, market sentiment remains bullish. U.S. spot Bitcoin ETFs recorded a robust $5.24 billion in inflows last month, according to Farside data, signaling continued appetite from institutions.
Bitcoin has since retraced to around $104,823, but analysts say investor confidence hasn’t wavered. Bitfinex noted the pullback is “a cause for some concern,” but overall sentiment remains strong. The Crypto Fear and Greed Index currently stands at 57—firmly in “Greed” territory.
All Eyes on U.S. Jobs Report
A critical short-term factor is the U.S. jobs report, scheduled for release on June 6. The data will likely influence the Federal Reserve’s next interest rate move, which has direct implications for Bitcoin and other risk assets.
“A stronger-than-expected report could delay rate cuts, strengthen the dollar, and apply downward pressure on Bitcoin,” Bitfinex analysts explained. Conversely, “a weaker-than-expected print would support the disinflation narrative and increase the likelihood of a Fed rate cut, which would be bullish for Bitcoin.”
Volatility Ahead: $115K or Sub-$100K?
If job data signals labor market strength, analysts warn Bitcoin could drop toward $102,000—or even below the key $100,000 level. In a more bearish scenario, they foresee potential support forming between $95,000 and $97,000, which could present “a solid accumulation opportunity.”
The last time Bitcoin traded near $97,000 was on May 7.
Still, many in the crypto space remain optimistic that June or July could mark Bitcoin’s next major breakout. Back in March, Jamie Coutts, chief crypto analyst at Real Vision, predicted that the market might be “underestimating how quickly Bitcoin could surge,” potentially hitting new highs before the end of Q2.
As institutional demand grows and macroeconomic factors align, all eyes are now on the upcoming jobs data to see whether Bitcoin will push toward $115K—or face another round of consolidation.
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