3 Key Factors That Could Move Bitcoin Price This Week: BTC Market Outlook

Bitcoin (BTC) is trading near $72,14.00 and the price has been struggling since May 28, when it crashed below the critical level of $73,000, amid escalating geopolitical conflict. Apart from Bitcoin, Ether has also suffered a severe decline over the last week, breaking below the psychologically critical $2,000 threshold. 

Nevertheless, several on-chain holders and derivatives markets are holding the line. Apart from this, no immediate catalyst is available to drive a recovery. On the other hand, financial markets are awaiting the US economic reports that could influence the interest rates. 

The market has been down since the US-Iran deal was postponed again. This article explores major factors that could influence Bitcoin (BTC) prices this week. 

BTC prices enter a bearish pattern 

As per the 8-hour chart, Bitcoin (BTC) price broke down on May 28, 2026. According to the charts, the price formed three peaks, with the middle peak the highest, before moving below a shared support line, termed the neckline. The breakpoints are lower, where $66,798 is projected as the target. This decline is amid the rise in sell-side volume. 

BTC has lost over 5% over the last week. It is entering the lower bands in the four-month-long range-bound channel. As mentioned earlier, Ether (ETH) lost its $2,000 critical level on Monday morning. 

Let’s explore the key events that could support BTC price over the week. 

Economic events from June 1 to 5 

10x Research stated that meaningful catalysts are occurring in June that could be significant for Bitcoin’s near-term trajectory. 

The first week of June will see numerous economic events. The ISM Manufacturing PMI report for May 2026 will be published on Monday, June 1. It will provide greater insight into the US manufacturing sector. 

April’s JOLTS Job Openings data will be available on Tuesday, and the previous month’s ISM Non-Manufacturing PMI data will be published on Wednesday. 

The Initial Jobless Claims report will be released on Thursday, providing a real-time proxy for weekly corporate layoffs, and interest rates will be determined by the Federal Reserve. The May Job Report is the most critical event of the week and will be released on Friday, June 5, 2026. Various analysts agree that this single report will dictate market direction for both crypto and traditional equities for the rest of the month. 

The labor market is looking forward to the Federal Reserve’s key mandates: maximum employment (the labor market) and price stability (low inflation). These reports determine shifts in Fed interest rates, which could influence whether capital flows into risky investments like crypto or stocks. The current outlook is mixed, as more hiring was done in April and May than expected. However, analysts have different opinions. 

Some believe that the labor market has been surging after a slowdown in 2025. However, other claims suggest that the growth reflects an increasing demand for health care workers driven by an aging population rather than an economic expansion. 

Numerous stock indexes ended with gains, and highs were recorded in the final week of May, such as major tech stocks and dipping oil prices. On the other hand, crypto remained in a deep bearish stance. 

Conclusion 

Analysts believe that key events over the first week of June, such as the May ISM Manufacturing PMI, the April JOLTS Job Openings, the May ISM Non-Manufacturing PMI, Initial Jobless Claims, and the May Jobs Report, could determine the market movements. The reports could also become a major catalyst for the whole crypto market and determine the performance of Bitcoin and Ethereum over the month. 

Also Read: OFDR (Official FIFA Defense Reserve) Crypto Price Prediction 2026-2030