Bitcoin surged past $98,000 after Wall Street's opening on December 24, as significant spot buyers boosted its price. This marked a $5,000 gain in a day, sparking hopes of a "Santa rally" among crypto enthusiasts. Data showed nearly $40 million in Bitcoin short liquidations within 24 hours, with total crypto liquidations reaching $150 million. Analysts noted Bitcoin's strength, highlighting key resistance levels to watch. However, caution remains, as some experts warn of potential downside risks if previous support levels turn into resistance. Bitcoin outpaced US stocks, which saw modest gains.