#ReboundRally Unexpected Bounce Sends Bitcoin Past $98,000

The price of Bitcoin (BTC) surged above $98,000 $ after Wall Street opened on December 24. The rally marks a one-day gain of more than 3%, driven by large buyers in the spot market. After a lackluster week that saw a test of December lows, Bitcoin appears to be regaining favor with investors.

Bitcoin soared above $98,000, rekindling talk of a “Santa rally” – a bullish surge often seen at the end of the year.

Bitcoin outperformed US stock indices.

Amid faltering traditional markets, Bitcoin outperformed major U.S. indices such as the S&P 500 and Nasdaq 100, which each gained less than 1% on the day.

A Green Christmas for Bitcoin?

As Bitcoin approaches $100,000, the prospect of a “Santa rally” appears to be materializing, bringing a breath of optimism to a market that is often volatile at the end of the year. However, caution remains, as the current market structure requires technical confirmations to turn this rebound into a true uptrend. The coming days will be decisive in determining whether this Christmas rally marks a turning point or just a temporary surge.