From Cointelegraph

June 6, 2025 10:42:00 AM:

Bitcoin reached over $104,000 on June 6 amid strong US labor market data and calls for interest-rate cuts. Trump criticized the Fed on Truth Social, pushing for rate cuts to benefit risk assets and crypto. Market data shows little chance of cuts before September, with nonfarm payrolls supporting the Fed’s current approach.

Trader TheKingfisher warns of a potential Bitcoin “liquidity trap” as price predictions suggest BTC/USD could drop below $100,000. Data shows a cluster of long liquidations between $99k and $102k, creating a risk of a downward liquidity cascade. The imbalance between bid and ask liquidity increases the likelihood of a liquidation trap.

Read more at Cointelegraph: Bitcoin nears $105K as Donald Trump demands ‘full point’ Fed rate cut