Can US payrolls nudge bitcoin to a new record?
Inditex up 4%, boosts retailers
Most major sub indexes trading in positive territory
S%P 500 futures up 0.2%
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CAN US PAYROLLS NUDGE BITCOIN TO A NEW RECORD?
Bitcoin has had a decent few weeks, and is back around $71,000 just 2% off early April's record high. BTC=
It has been helped by steady inflows into the much-discussed spot bitcoin ETFs, and is up 5% already in June, after an 11% rise in May.
Now, analysts at Singapore-based fund QCP Capital are waiting for a good traditional market-moving event to send bitcoin to its next high.
"We expect a further boost to this bullish momentum with NFP (non farm payrolls) this Friday," they said in a note published on their Telegram channel.
"The markets are pricing in a 0% chance for a rate cut in June, and July, a weaker NFP number might change that. Could this be the catalyst to break all-time highs?"
The average expectation of analysts polled by Reuters is for 185,000 new jobs in May.
(Alun John)
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($1 = 0.7830 pounds)
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