Bitcoin could reach new all-time highs in the coming days if it remains resilient amid the lowest U.S. job openings in three years and potential slowing inflation, according to crypto researcher Markus Thielen.

In a June 4 report, Markus Thielen, head of research at 10x Research, highlighted that the recent downturn in U.S. job openings could signal an economic slowdown, which may lead to lower inflation — a positive indicator for Bitcoin. The U.S. Bureau of Labor Statistics' Job Openings and Labor Turnover (JOLT) report revealed that in April, job openings fell to 8.1 million, with approximately 0.8 unemployed persons per job opening, the highest ratio since February 2021.

Thielen suggests that this could be the first of several economic indicators pointing towards a slowdown, which would subsequently lead to reduced inflation, a scenario historically bullish for Bitcoin.

“When the U.S. Consumer Price Index (CPI) dropped by 0.1% on May 15, Bitcoin surged 7% over the following five days, reaching $71,432,” Thielen noted. He believes a similar outcome could be expected if the CPI drops another 0.1% to 3.3%.

“A weaker CPI could prompt rate cuts, and with the upcoming CPI inflation report, if the year-on-year CPI is 3.3% or lower, it will likely push Bitcoin to new all-time highs,” Thielen predicted.

Thielen also observed that Bitcoin has recently broken out of a key consolidation triangle. A close above this level, combined with lower U.S. inflation or employment figures, could clear the path for Bitcoin to surpass its current all-time high of $73,679 between June 7 and June 12.

The U.S. Bureau of Labor Statistics is set to release the Employment Situation Summary on June 7, followed by the CPI data on June 11. These reports will be critical in determining the economic landscape and Bitcoin’s potential to reach new highs.

As the market awaits these key economic indicators, Bitcoin's performance will be closely watched, with investors hoping for favorable outcomes that could drive the cryptocurrency to unprecedented levels.