š Bitcoin āSanta Rallyā in Action: BTC Soars to $98K! š
Bitcoin bulls are back, delivering a green Christmas for crypto enthusiasts. Here's the latest on BTC's dramatic rebound:
šø New Highs Achieved
Bitcoin hit $98,020 on Dec. 24 (Bitstamp), climbing over 3% in one day.
A $5,000 surge marks a strong recovery from recent lows.
šø Key Drivers
Large spot buyers stepped in, fueling the rally.
Data shows $40M in BTC short liquidations in 24 hours, contributing to upward momentum.
šø Market Insights
Volume-Weighted Average Price (VWAP):
First resistance level flipped; next target: $98.5K for all-time highs.
Coinbase premium shows increasing US trading pressure.
šø Expert Opinions
Analysts see a potential "Santa Rally" as BTC exhibits strong buying signals.
Caution:
BTC needs to reclaim previously lost supports for sustained bullish momentum.
Resistance at key levels could still pose a downside risk.
šø Outperforming TradFi
BTC outshines US stock markets, with the S&P 500 and Nasdaq 100 gaining less than 1% on the day.
š Will this Santa Rally take Bitcoin to new all-time highs? Stay tuned!
