PANews reported on June 5 that according to The Block, as the price of Bitcoin fluctuates around $105,000, Bitfinex analysts pointed out that if the U.S. employment report released on Friday shows a slowdown in labor market growth, the number of new non-farm payrolls is expected to be between 125,000 and 130,000, lower than 177,000 in April, it may prompt the Federal Reserve to cut interest rates ahead of schedule, thereby boosting Bitcoin to the range of $120,000 to $125,000. On the contrary, if the employment data is strong, the price of Bitcoin may fall back to around $95,000.

Meanwhile, Valentin Fournier, chief research analyst at BRN, is pessimistic, believing that bearish signals are accumulating, including reduced ETF inflows, weakening momentum, and a surge in cryptocurrency IPOs, indicating that there is profit-taking in the market. He pointed out that Circle and Kraken's financing and IPO plans suggest that cryptocurrency companies are taking advantage of the high valuation window, indicating that future growth may slow down. In addition, the inflow of funds to US spot cryptocurrency ETFs has decreased, and the inflow of funds to Bitcoin and Ethereum ETFs has dropped sharply, and prices have also fallen. Fournier believes that this is a sign of exhaustion of market momentum and recommends reducing risk exposure and turning to defensive strategies.