BTC, ETH Rising on Memorial Day: Will the Uptrend Continue This Week?

Bitcoin (BTC) surged during Memorial Day, May 27th, 2024, reaching $70,613, its first time surpassing the $70,000 mark since May 20th, 2024, when it hit $71,980, just shy of its all-time high of $73,835. Ethereum (ETH) and Solana (SOL) also saw significant gains, hitting $3,973 and $172 respectively, indicating a broader rise in cryptocurrencies at the start of the week.

This week features crucial data influencing Bitcoin and stock prices. On Tuesday, the S&P CoreLogic home prices report will be released, followed by the important PCE inflation data on Friday.

The stock market rallied on Friday, May 24th, 2024, ahead of the holiday weekend, a common trend. However, this rally will be tested with the upcoming inflation data this week.

With mixed inflation estimates, both cryptocurrencies and stocks could see volatility during this shortened week.

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What are your thoughts on the market trends?