The Bitcoin Christmas Miracle: A Festive Rally to Remember

December 25th will be etched in the memories of Bitcoin enthusiasts for a long time to come. The cryptocurrency's price danced around the $98,000 mark, treating traders to a festive Santa rally that brought joy and cheer to the holiday season.

The rally was marked by a significant $4,000 daily boost, which sent the Bitcoin price soaring. However, as the holiday spirit took hold, the cryptocurrency's volatility cooled, and the price stabilized.

Renowned trader Skew spotted a bullish RSI divergence, which hinted at a potential reversal in the market. According to Skew, attempts to push the Bitcoin price lower were nothing more than a "failed auction."

As we head into the new year, Bitcoin finds itself sandwiched between the 21-day and 50-day Simple Moving Averages (SMAs). The question on everyone's mind is: which SMA will break first?

Meanwhile, in South Korea, Bitcoin buyers are back with a vengeance. The Kimchi Premium, a measure of the cryptocurrency's price in South Korea compared to the global average, has hit a local high of 5.12. This raises an interesting question: is this the start of a new trend in the South Korean Bitcoin market?

Only time will tell, but one thing is certain – the Bitcoin Christmas miracle has left a lasting impression on the cryptocurrency market.

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