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Title: 21Shares says June payroll surprise sets soft-landing stage that could catalyze Bitcoin beyond $200k
In a recent research note, Matt Mena, a crypto strategist at 21Shares, has stated that the unexpected June payroll data could set the stage for a potential Bitcoin price surge beyond $200,000. According to Mena’s analysis, the data suggests that the US labor market is experiencing steady yet non-inflationary job growth, paving the way for the Federal Reserve to ease monetary policy and release liquidity into the market.
Mena believes that this development could trigger a chain reaction in risk assets, including Bitcoin. The strategist notes that historical trends indicate that fresh capital allocation typically begins with Bitcoin before shifting towards other cryptocurrency assets. As such, he suggests that the “runway is forming” for Bitcoin to break through its previous cycle high.
In this context, Mena views $200,000 as a critical threshold that would mark a decisive breakout level. He implies that once Bitcoin achieves this milestone, altcoins could potentially outperform and capitalize on the momentum.
Source: cryptoslate.com
