Bitcoin Bulls Eye 4 Key Factors This Week
CryptoNewsTerminal Staff03 Jun, 2024
Bitcoin Bulls Eye 4 Key Factors This Week
Bitcoin bulls will be closely monitoring several key factors this week, according to Cointelegraph. 1. Can Bitcoin Break Above $69,000 and Hold? Bitcoin has been hovering around the $69,000 mark for several days now. If it can break above this level and hold, it could signal a further rally. 2. US Non-Farm Payrolls and Unemployment Rate Figures The US non-farm payrolls and unemployment rate figures for May will be released on Friday. These figures could provide insights into the health of the US economy and impact the price of Bitcoin. 3. Bitcoin's Longest-Ever Sideways Trading Period Bitcoin has been trading sideways for over a month now. This is its longest-ever period of sideways trading. If it can break out of this range, it could lead to a significant move. 4. Mining Difficulty The mining difficulty of Bitcoin is expected to increase this week. This could make it more difficult to mine Bitcoin, which could impact the price.
