Solana (SOL) and NEAR (NEAR) benefited more from the general rise in the market. These two cryptocurrencies led the crypto markets, gaining 8% and 12% respectively. Reflecting broader market movements, the CoinDesk 20 Index (CD20) also gained 6%.

Behind this enthusiasm lies the US Consumer Price Index (CPI) figures for April. This inflation data, which decreased compared to March, relieved investors when evaluated together with the somewhat stagnant retail sales report. There was concern that the recently accelerating inflation and revived economy might force the Federal Reserve to step back from its dovish stance and even bring interest rate increases to the agenda. These concerns dissipated with lower-than-expected inflation data.

Bitfinex analysts stated in the market update that investors see this as a positive regime change. According to analysts, inflation data, which fell for the first time in the last three months, was a turning point for investors. Bitfinex emphasized that in addition to this positive development, the Federal Reserve’s previous announcement of its intention to reduce the balance sheet contraction also created a positive pressure for risky assets.

The activity in the crypto market was also reflected in traditional markets. US stocks have also entered an upward trend. The S&P 500 index rose more than 1% to a new all-time high. This shows that risk appetite has returned to the markets.

Swissblock analysts stated that today’s rise in Bitcoin is an exit from the downward trend that has dragged prices down in recent weeks, and stated in the Telegram update that the trigger that investors have been waiting for a long time has arrived. According to analysts, investors who have been waiting for a bigger bounce since the peak in March caught this opportunity with the release of inflation and retail sales figures. Swissblock predicts that with this rise, Bitcoin will first target $ 69,000 and then push the historical peak of $ 84,000 again. The analysis firm also claims that altcoins will also strongly follow Bitcoin in the next upward phase.

These developments raise hopes that the crypto market may enter a long-term uptrend. However, investors still need to be cautious. The cryptocurrency market is very active and subject to sudden changes. Therefore, it is important for investors to always keep a close eye on market conditions and plan their investments carefully.