Analyst: Bitcoin is expected to reach $115,000 in July, but U.S. employment data may pose a hurdle

ChainCatcher news, according to CoinTelegraph, Bitfinex analysts state that if institutional buying continues and U.S. employment data is "weaker than expected," Bitcoin could soar to a historic high of over $115,000 next month. Meanwhile, if the employment report shows a strong labor market, Bitcoin may test support levels around $102,000 or lower.

However, stronger-than-expected U.S. employment reports could delay interest rate cuts, thereby strengthening the dollar and potentially putting downward pressure on Bitcoin.