Cryptocurrency price on June 3: Bitcoin approaches $69k on renewed US rate cut hopes
At 1:18 pm, BTC was trading 1.7% higher at $68,870, while Ethereum rose marginally 0.5% to $3,813. Meanwhile, the global cryptocurrency market cap rose by 1.2% to around $2.56 trillion in the last 24 hours.
Shivam Thakral, CEO of BuyUcoin, remarked, «The latest U.S. inflation data showed moderate growth in April while consumer spending exhibited signs of weakness. Despite this, BTC remained resilient above the $68,000 mark, and ETH maintained stability around $3,800.»
Thakral added, «With positive macroeconomic factors shaping financial markets, we anticipate sustained momentum in digital assets in the weeks ahead.»
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View Details»Echoing this sentiment, Edul Patel, CEO of Muderx, emphasized the anticipation surrounding the forthcoming US jobs data for May, set to be released later in the week.
«While Bitcoin faces resistance near the psychological $70,000 level, bullish sentiment persists, countering bearish pressures,» Patel stated. «However, failure to secure a robust rebound may see support tested at $66,500, with resistance at $69,100.»
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