Bitcoin and Ethereum saw positive movement in the crypto market after the release of the Consumer Price Index (CPI) data in the US, with BTC briefly surpassing $26,430. The CPI data is an important economic indicator that measures the average change in prices of goods and services over time. The recent CPI report showed a softening in the annual inflation rate to 4.9% in April, which boosted investor sentiment and encouraged investment in riskier assets like Bitcoin.

Despite facing a brief sell-off after the SEC sued Binance and Coinbase, Bitcoin has remained relatively stable and its major holders, or "whales," have been increasing their positions, potentially indicating a bullish turn in the near future. Long-term Bitcoin holders are not sending their supply to exchanges, indicating that they are not reacting to recent market distress or regulatory charges against Binance and Coinbase. The daily chart shows an uptrend with a buy signal from the MACD indicator, and a break above the short-term resistance of $26,000 may attract more retail investors to the market. To sustain this trend, Bitcoin price must stay above the 50-day EMA and failure to uphold support at $26,000 may lead to a retracement with support at $25,400 and $24,000.