Bitfinex analysts predict bitcoin’s growth to $ 125,000 in July

Analysts at the Bitfinex crypto exchange have predicted that in July the price of bitcoin BTC $105,242.78 Bitcoin 1.25% Market capitalization $2.09 trillion VOL. 24 hours $1.3 billion may reach a new high in the range of $ 120,000−125,000. This forecast is based on expectations that a weak US employment report will push the Federal Reserve to ease monetary policy.

In particular, analysts predict that in the report to be released today, June 6, the number of new jobs outside of agriculture will be 125,000−130,000 against 177,000 in April. According to their estimates, the unemployment rate will remain at 4.2%, and the average hourly wage will increase by 0.2−0.3%. Such data may reinforce the belief that inflation is slowing down and lead to a cut in the key policy rate, which will support interest in risky assets, including bitcoin.

Experts also warn that in the event of stronger-than-expected labor market data, rate cuts may be delayed, which will lead to a stronger dollar and pressure on the crypto market. In such a scenario, the level of $ 95,000−97,000 could become a local «bottom» for bitcoin.

BRN analyst Valentin Fournier advises the market to follow a cautious strategy due to the growing number of cryptocurrency IPOs and weak signals, including a decrease in ETF inflows. This may indicate investors' desire to lock in profits in the short term and a possible slowdown in market growth.