Analyst: If the Fed cuts interest rates this month, it may push Bitcoin to $112,000

According to Cointelegraph on June 6, CMC Markets analyst Carlo Pruscino said that the Federal Reserve is expected to keep interest rates unchanged this month, but the unexpected rate cut may help push Bitcoin to a new high. If the Fed cuts interest rates earlier than the market expects, it may push the price of Bitcoin back up to $112,000. Pruscino said, "If the next two rate cuts come ahead of schedule, this will have a significant impact on the future price trend of Bitcoin and other cryptocurrencies. The upside target in the minds of traders is currently $112,000, which is a key psychological level." Pruscino said that the Fed has "enough data" to make a decision, but the Fed still faces uncertainty due to Trump's tariff policy. The U.S. employment report to be released by the U.S. Bureau of Labor Statistics on June 6 will be a key indicator of the Fed's rate cuts and the recent price trend of Bitcoin.