He says that a market analyst says that the US Federal Reserve may lead Bitcoin in the direction of USD 112,000 earlier than on the market.
“When these two further rates of rates come, if they come much earlier than expected, it will have a great impact on future price or cryptographic movements on Bitcoin and some other cryptto,” said CMC Markets Carlo Pruscino market analyst.
“Due to the fact that the goal that traders in mind is $ 112,000 on bitcoin, or psychological level,” said Pruscino.
Fed has “enough data”, but an unknown factor still in the game
On May 22, Bitcoin reached a novel highest level of all time in the amount of USD 111,970, but since then he returned to USD 102,266 at the time of writing, According to to Coinmarketcap.
However, market participants are convinced that the FED will maintain interest rates at the upcoming decision on June 18. According to For the Fedwatch CME tool, 97.5% expects the rate from 4.25% to 4.50%.
Pruscino said that the federal reserve has a “sufficient number of data” to make a decision, but there is still uncertainty about the tariffs of US President Donald Trump.
“As many times they mentioned in their statements, tariff policy and trade policy are unknown, so they must have some clear evidence,” said Pruscino.
“There must be a continuation of the risk associated with a better risk mood to crack USD 112,000 to push higher when you receive catalysts,” he added.
The USA report will be a key indicator
The US international court blocked Trump to apply his tariffs on May 28, arguing that he had exceeded his authority. However, the Court of Appeal allowed them to continue, and Trump Lately Double tariffs for foreign steel and aluminum up to 50%.
Pruscino said that a report on work in the US, which will be issued by Bureau of Labor Statistics on June 6, will be a key indicator of both the Fed interest rate reduction and the nearest Bitcoin price.
Related: Lummis: Fed Signals Signals “Lastrory Future for Digital Assets”
“Entering this number here, we recently had poor activity in the US. So the number will try to be strong enough to note part of the poor activity we had,” he said.
Pruscino said, however, that a powerful report can further delay the chance of lowering the rate from the FED.
“If you get a large number, say, plus 250,000 jobs, it will be a small surprise for markets, and then lead markets to think, well, maybe the FED reserve can even delay their rate reduction,” he said.
Warehouse: The Boomers house worth 79 USD is finally on board from Bitcoin
This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
