Today, the crypto market cap has been lifted by a resurgence in risk appetite and an uptick in inflows into Bitcoin ETFs.
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The cryptocurrency market is up today, with the total market capitalization rising by 2.65% over the past day to $2.38 trillion on April 22. Leading these gains are top cryptocurrencies, Bitcoin
$64,461 and Ether
ETH 
$3,145 , which jumped 2.40% and 2.80% on the same day.
Return of risk-on mood
The crypto market’s gains today coincide with the return of risk-on mood across traditional markets.
On April 22, the S&P 500 futures advanced by up to 0.33% to 5,031 points, indicating that investors’ focus was shifting away from escalating geopolitical tensions in the Middle East to this week’s corporate earnings release, including reports from Big Tech giants such as Microsoft, Meta, and Alphabet.
Almost two-thirds of the 409 respondents of Bloomberg’s latest Markets Live Pulse survey believe that earnings will boost the U.S. equity benchmark. This is the highest confidence in corporate profits since the survey started in October 2022.
The positive outlook on the S&P 500 is also lifting the cryptocurrency market, helped by the rise in their 30-day average correlation to the most positive level in a month at 0.82.
