The crypto market has extended its bullish momentum despite recent tailwinds, Ethereum continues to lead in this recovery. The second crypto by market cap trades at $1,600 with a 35% profit in the past week.
Related Reading | Crypto Market On The Mend: ApeCoin And Curve DAO Show Gains
Trading firm QCP Capital shared a market update claiming the current bullish price action has been a “pleasant surprise for all”. This price action started on the back of the latest U.S. Consumer Price Index (CPI) print; a metric used to measure inflation.
The CPI stands at a 40-year high which was expected to have a negative impact on the crypto market. The opposite occurred, the trading firm claims, due to market participants expecting lower inflation in