The cryptocurrency market seems to be entering a recovery phase. BTC has reclaimed the $65,000 price level and Ethereum (ETH) is inching closer to hitting $2000. CoinGecko’s Bitcoin data shows that BTC has risen by 1.1% in the last 24 hours and 4.8% in the last week, while ETH has risen by 2.5% and 8.1% in the same time frame. Let’s discuss if the market will continue its rally and if Bitcoin (BTC) and Ethereum (ETH) will lead the charge.

Why Are Bitcoin, Ethereum Rallying Today?

The latest cryptocurrency market upswing comes after inflation in the US cooled for the month of June 2026. CPI (Consumer Price Index) figures came in at 3.5% for last month, which may have boosted investor sentiment. The development has also reignited hopes for an interest rate cut from the Federal Reserve. Bitcoin (BTC), Ethereum (ETH), and other high-risk assets may continue to rally if market sentiment remains high.

Also Read: BlackRock CEO Predicts Bitcoin To Hit $700,000

While inflation for June may have dipped, there is a chance that July will be quite the opposite. Oil prices have surged after the re-escalation in the US-Iran conflict. High oil prices may lead to higher costs and, consequently, higher inflation. Such a development could hurt Bitcoin (BTC) and the larger cryptocurrency market. Higher inflation could lead to the Federal Reserve keeping interest rates unchanged, or even raising interest rates. Higher interest rates often leads to less risky investments.

Will The Rally Continue?

Bitcoin (BTC) has had a rough few months. The asset climbed to an all-time high of $126,080 in October 2025. BTC’s trajectory to a new peak was well within its infamous 4-year cycle. The original crypto has hit a new peak after every four years; 2017, 2021, and 2025. Experts believe Bitcoin (BTC) is still following its 4-year trajectory. If we follow the historical trajectory, we may see the next peak in 2029. However, the bullish outbreak to hit a new peak in 2029 could start sometime in 2027.