Cryptocurrency markets experienced a surge today, driven by positive news concerning the U.S. economy. Bitcoin hit new highs above $110,000, while Ethereum looks to reclaim its $2,700 target. This optimistic trend is fueled by a positive reading for U.S. consumer confidence and a decrease in inflation expectations. The figures suggest that the U.S. economy may be on a solid recovery path. The data release included a higher-than-expected Consumer Confidence index of 98, exceeding the anticipated 87.05. This improvement reflects positive outcomes from the U.S.-China trade deal and hints at further economic growth. A corresponding decrease in 12-month inflation expectations, falling to 6.5% from 7% in April, provides another boost for cryptocurrency markets, with potential tariff agreements potentially easing their impact. Stephanie Guichard, Senior Economist of Global Indicators at The Conference Board, commented on the positive data: ‘Consumer Confidence improved in May after five consecutive months of decline. Recovery was visible even before the May 12 U.S.-China trade deal, but it gained momentum afterwards. Monthly improvement was largely due to consumer expectations, as all three components of the Expectations Index (business conditions, employment prospects, and future income) rebounded from April’s lows. Consumers are now less pessimistic about business conditions and job availability over the next six months and have regained optimism regarding future income. Current assessments by consumers have also improved; however, while they are more positive about current business conditions compared to last month, their views on current job availability weakened for the fifth consecutive month.’ The focus now shifts towards the ETHBTC pair, with continued strength in Ethereum potentially leading to further gains across the altcoin market.