Crypto Markets Tick Up Amid Positive Macroeconomic Data, but Inflation Fears Linger

The cryptocurrency market experienced mild gains on Friday following the release of the University of Michigan’s Consumer Sentiment Index, which showed some improved confidence in the U.S. economy.

Bitcoin (BTC) increased 2% over the past 24 hours, trading hands at around $95,400. Ethereum (ETH) is also up 2% to approximately $1,800, while XRP remained flat on the day $2.20. Solana (SOL) also saw mild gains, growing 2.6% to hover near $155. Among the top-ten large cap assets, Dogecoin (DOGE) saw the most gains today, up 4%, according to CoinGecko.

The total cryptocurrency market capitalization rose 1.3% on the day, holding around the $3.08 trillion mark.

Leveraged liquidations over the past 24 hours totaled $341.32 million, with BTC accounting for $99 million of that figure, according to CoinGlass. Ethereum followed with $46 million in liquidations.

U.S. spot Bitcoin ETFs recorded $442 million in inflows on Thursday, after two days in a row of inflows above $900 million. Spot Ethereum ETFs saw $64 million – the highest daily inflow since February, according to SoSoValue data.

Macro sentiment

Experts attribute Friday’s mild momentum to upbeat investor reaction to the University of Michigan’s latest report. The Consumer Sentiment Index registered 52.2 for April, which is down from 57.0 in March but above expectations of 50.8. However, the report also pointed to lingering economic concerns.

“While this month’s deterioration was particularly strong for middle-income families, expectations worsened for vast swaths of the population across age, education, income, and political affiliation,” the report reads.

“Consumers perceived risks to multiple aspects of the economy, in large part due to ongoing uncertainty around trade policy and the potential for a resurgence of inflation looming ahead,” it added.

Regarding other commodities, Gold dropped over 2% in the past 24 hours to $3,293, while the U.S. Dollar Index is now hovering around 99.53.

“The US stock market navigated a volatile week, marked by a steep initial decline followed by a robust multi-day recovery,” said George Pavel, the general manager of financial platform NAGA. He added: