Today, the cryptocurrency market is experiencing a price hike as both Ethereum and Bitcoin enjoy favorable investor sentiment. Ethereum rose over 6% within hours to break above the $2,000 key technical level while Bitcoin inched closer to the much-desired $30K mark. Both cryptoassets proved to be resilient, especially when risk appetite returned after recent dips.

The entire cryptocurrency market cap rose 1.5%, reaching over $1.27 trillion due to the hype surrounding such memecoins as Pepe (PEPE) and Floki Inu (FLOKI) after their launch on the Binance exchange. The emerging industry was also granted some support by the positive returns generated by the American stock market. The S&P 500, the Dow Jones Industrial Average and the Nasdaq all closed higher, the latter of which was greatly bolstered by Apple’s (AAPL) impressive quarterly report.

The peak of the market’s attention and excitement, however, is set for the upcoming week. Investors are impatiently awaiting April’s CPI data to come out and assess the inflation indicator. This comes on the backs of the US Federal Reserve’s Chairman Jerome Powell hinting that the central bank could pause its interest rate hikes. These crucial bits of information will heavily dictate the changes and trends of the market going forward, so the cryptocurrency industry is ready to take it stride by stride.



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