Shortly before the weekend, Bitcoin managed to temporarily rise above the $95,000 hurdle.
Bitcoin Surpasses $95,000 – What’s Important for Investors Next Week
Shortly before the weekend, Bitcoin temporarily managed to climb above the $95,000 mark. This brings the $100,000 barrier back within striking distance. Risk appetite for Bitcoin appears to be picking up again. In addition to large investors gradually increasing their positions, retail investors are also increasingly paying attention, further fueling the rally. The rally could accelerate further if risk appetite continues to rise.
In addition to the prospect of interest rate cuts on both sides of the Atlantic, economic uncertainties are driving Bitcoin investors. In this case, the unforeseeable effects of the tariff dispute are particularly noteworthy.
Profit-taking is initially elusive – institutional interest could remain high
The nature of the recent rise could indicate that many committed buyers, i.e., institutional investors, have gradually built up positions. The continued absence of large-scale profit-taking is likely a sign of the recent optimism in the crypto markets.
US Price Data and Non-Farm Payrolls in Focus Next Week
In addition to the release of new US price data, market participants will be particularly focused on official US labor market data (non-farm payrolls) in the new trading week. Overall, monetary policy stimulus could thus once again attract investor interest.
The so-called “PCE deflator” for personal consumption expenditures will be released on Wednesday (2:30 p.m.).
The official jobs report follows on Friday at 2:30 p.m. The unemployment rate and average hourly wages should also be monitored for monetary policy indicators.
The Fed will meet as scheduled on May 7th to decide on future monetary policy. It remains unclear whether the central bank will lower interest rates. Donald Trump once again criticized Fed Chairman Jerome Powell at the beginning of the week, calling him “Mr. Late,” among other things, but backtracked by midweek.
If Trump has his way, interest rates could be cut.
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