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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cryptocurrency-markets-respond-to-economic-indicators-and-analyst-insights/" data-wpel-link="internal">Cryptocurrency Markets Respond to Economic Indicators and Analyst Insights</a> 
While the cryptocurrency <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">markets</a> continue to experience uncertain price movements, news from the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> adds to the anxiety. Following statements by Federal Reserve officials suggesting that <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">interest rate</a> hikes could be postponed, attention has turned to the cryptocurrency markets. An analyst made significant remarks about Bitcoin, LINK, and Solana, which is considered a killer of Ethereum. 
<h2 style="text-align: justify" id="bitcoin-and-link-comments">Bitcoin and LINK Comments</h2> 
A closely followed <a href="https://en.coin-turk.com/bitcoin-solana-and-chainlink-latest-price-analysis-and-targets/" data-wpel-link="internal">crypto analyst</a> suggested that Bitcoin (BTC) and two altcoin projects might be gearing up for a major rally. 
The crypto analyst, who uses the name Inmortal, told thousands of users on the social media platform X that there is still a long way to go for Bitcoin, pointing to the historical duration of market cycles. 
<blockquote> 
 There’s room for 500 more green days. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-349769" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-gorsel-1-coin-turk-com.png" alt="" width="1133" height="546"> 
Bitcoin has continued trading at the level of $62,486 following a 2.14% rise over the last 24 hours. This price increase has pushed the market cap over $1.237 trillion, continuing its move towards the critical $1.3 trillion level. The trading volume remains steady at around $25.5 billion. 
The analyst also examined Chainlink (LINK), noting that it is undergoing a consolidation phase that could lead to a significant breakout. 
<blockquote> 
 The most intriguing aspect about LINK is how it operates. 
 <ul> 
 <li>Long consolidations.</li> 
 <li>Rapid price increases.</li> 
 </ul> 
 We are not in the latter, so we must be in the former. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-349767" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-grafik-analist-coin-turk-com.png" alt="" width="1145" height="553"> 
In the last 24 hours, LINK has seen a rise of approximately 1.59%, trading at $14.26. LINK’s market cap is at $8.37 billion. 
<h2 style="text-align: justify" id="latest-on-solana">Latest on Solana</h2> 
Lastly, Inmortal pointed out that Solana (SOL), possibly Ethereum’s (ETH) biggest competitor, could drop to the $120 region after falling below the daily chart’s trend line, and a new bull run triggering movement above $230 could start after a dip trap. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-349768" src="https://coin-turk.com/wp-content/uploads/2024/05/solana-grafik-coin-turk-com.png" alt="" width="1146" height="551"> 
<blockquote> 
 The fastest horse in the cycle just needs one more trap. 
</blockquote> 
In the last 24 hours, Solana experienced a 6% increase, continuing to trade in the $153.43 region. SOL’s market cap is at $68.8 billion, with a 24-hour trading volume seeing a 6.72% decrease to $2.2 billion. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/cryptocurrency-markets-respond-to-economic-indicators-and-analyst-insights/" data-wpel-link="internal">Cryptocurrency Markets Respond to Economic Indicators and Analyst Insights</a></h5>

Cryptocurrency Markets Respond to Economic Indicators and Analyst Insights

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