bitcoin (BTC) saw a 2.4% gain in the last 24 hours, pushing its price above $27,000.
A Bitfinex analyst said Decipher that several factors contributed to this bullish price surge, including news on the Ethereum futures ETF, a 2% rise in the S&P 500 index, and approximately $80 million in short liquidations in the last 24 hours.
On Thursday, VanEck announced the upcoming launch of an Ethereum futures ETF, fueling bullish sentiments in the market.
The US stock market also turned green, "giving hope that the market will bottom out" after a decline since mid-September, Bitfinex analysts told Decrypt.
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Furthermore, the weakness in the value of the dollar may also have contributed to the bullish sentiments.
The dollar index (DXY) against other global reserve currencies fell for the second day in a row, losing 1.13% from its yearly high of 106.8 points.
