Bitcoin is predicted to reach a new all-time high this week

The flagship cryptocurrency may reach a new all-time high (ATH) between June 7 and 11, all thanks to the publication of important economic data in the United States.

on June 4, the U.S. Bureau of Labor Statistics released a report on the number of open positions in the country’s labor market. The indicator has stopped growing, which may open up prospects for an increase in the value of bitcoin, according to Біллі Маркус" href="https://noworries.news/biography/billi-markus/" data-bio-id="3704">Marcus Thielen, head of research at 10x Research. The Job Openings and Labor Turnover Survey (JOLTS) is one of the most important economic indicators for BTC.

According to the latest data, there were 8.1 million job openings in the US in April, while there were about 0.8 unemployed people per job opening. This is the highest figure since February 2021. In March, the number of open positions was almost 8.5 million.

According to Thielen, JOLTS may be the first of the economic indicators indicating a slowdown in the economy. «If the economy slows down, inflation will decline. And lower inflation is a key bullish indicator for BTC $58,634.83 Bitcoin -2.51% Market capitalization $1.16 trillion VOL. 24 hours $2.96 billion «Last night, the growth of the most important and promising indicator — the number of open vacancies — slowed significantly,» he wrote.

on May 15, the Consumer Price Index (CPI), which measures inflation, fell by 0.1%. In response, the BTC rate jumped by 7%. Another decline of 0.1% to 3.3% will have a similar effect.

«Next week, we will get the CPI report. If the CPI [у річному обчисленні] comes in at 3.3% or lower, it will likely push bitcoin to new all-time highs ,» Thielen said.