Bitcoin has surged past the $28,000 level while Ethereum has reclaimed the $1,800 zone as crypto market continued to revive. On a seven-day period, these assets have gained 30 percent and 13 percent, respectively.

Cryptos has come alive on the back of liquidity pumped into the banking systems by global central banks after the collapse of Silicon Valley Bank and UBS' takeover of Credit Suisse. The US Federal Reserve may also be forced to go slow on rate hikes now, benefitting crypto market.

However, the crypto market surge is largely limited to major cryptos such as Bitcoin and Ethereum. Other assets such as Polygon, Cardano and Ripple are largely flat on a seven-day period.