In a sudden and impressive move, Bitcoin has surged to the $28,000 mark, marking a rapid 3% increase within minutes. This price spike has had a positive impact on other cryptocurrencies, causing them to rise as well.

Ethereum, one of the leading altcoins, has seen daily gains of 3% as well, with its price reaching $1,750.

Currently, the fear and greed index stands at a “neutral” level, with a score of 48 points.

Moreover, it appears that the recent price surge has led to the liquidation of a $30 million short position, adding to the market’s dynamics.