Efe Nail Saltık 
If Bitcoin remains strong in the face of three-year low job postings and a possible inflation slowdown in the US, it could reach new highs within days, says crypto researcher Markus Thielen.
Bitcoin could hit a new record high next week, according to a crypto researcher, following the lowest US job postings in three years, as two other indicators also confirm it.
“Last night, job postings, a critical business metric going forward, slowed significantly,” Markus Thielen, head of research at 10x Research, wrote in a June 4 report.
According to the U.S. Bureau of Labor Statistics’ June 4 Job Openings and Labor Turnover Rate (JOLT) report, there were 8.1 million job postings in the country in April, with approximately 0.8 unemployed people for every job posting; This is the highest rate since February 2021.
According to Thielen, this could be the first of a series of economic indicators that point to an economic slowdown, all of which will lead to “lower inflation” — a key bullish indicator for Bitcoin.
When U.S. Consumer Price Index (CPI) results fell 0.1% on May 15, Bitcoin rose 7% over the next five days to $71,432, according to CoinMarketCap data.
Thielen thinks a further 0.1% drop in CPI to 3.3% would have a similar effect.
“A weaker surprise could bring back interest rate cuts and we will get the CPI inflation report next week. “If the CPI is 3.3% [on a yearly basis] or lower, it will push Bitcoin to new all-time highs.”
At the time of publication, Bitcoin is trading at $71,199.
Thielen said Bitcoin is breaking out of a key consolidation triangle and a close above that level, coupled with lower US inflation or employment data, could open a clear path for Bitcoin to break the current all-time high of $73,679 between June 7-12. he stated.
The U.S. Bureau of Labor Statistics will release the Employment Situation Summary on June 7, followed by CPI data on June 11.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.