Basic Points:
Bitcoin (Btc) passed $ 104,000 on June 6 Wall Street open as strong data in the US manufacture market contrast to fresh calls for interest rate cuts.
Bitcoin’s edges are higher as Trump moves to Fed
Data from Cointelegraph Markets Pro and Tradingview showed BTC/USD up to 2.5% in the day.
Recovering from losses of snap In the ongoing spat between US president Donald Trump and CEO of Spacex Elon Musk, markets are digging fresh clues of inflation as Trump turned his attention to the federal reserve.
“‘Late’ to the fed is a catastrophe!” She is write In part of the posts of the day in social reality.
Trump is There is no stranger to criticism of both Fed and Chair Jerome Powell’s policy, and are often demanding interest rate cuts in 2025-something that will benefit from risk and crypto properties.
“Europe had 10 rates of cuts, we didn’t. Despite him, our country was doing great,” he continued, referring to Powell.
“Go for a whole point, rocket fuel!”
Number Cointelegraph had previously reportedMarkets see a little chance of cuts coming before the September Fed meeting, per data from CME Group’s Fedwatch toolwith the full value of Trump’s whole point.
Meanwhile, the day’s unusual payroll data appeared to support Fed’s current approach, which shows an elastic labor market and thus reduces the need for decreased rates.
An Official release From the US Bureau of Labor Statistics (BLS) confirmed that “the total nonfarm payroll work increased by 139,000 in May, and the unemployment rate did not change to 4.2 percent.”
Warns the analysis of “Bitcoin’s trap”
The BTC’s price action, the famous businessman ThekingFisher returned to order the book’s liquidity for clues such as market direction.
Related: The Bitcoin Hash Ribbons Metric only delivered a 3rd ‘Buy’ Signal of 2025
Earlier, Cointelegraph mentioned various downside price predictions for a short period of time, including commentators who agree that BTC/USD fall below $ 100,000.
“This $ BTC map of extermination (optical_opti timeframe) shows a massive cluster of long prevention between ~ 99k and 102k,” part of a X post Read on the day.
“That is a large magnetic zone below the current price. In contrast, the short fluids above ~ 104.5K are minimal.”
ThekingFisher added that the resulting “strong imbalance” of the bid compared to the inquiry of liquidity has increased the risk of a liquid cascade downward.
“The normies see support; we found a trap trap,” the post summary.
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