Bitcoin (BTC) passed $98,000 after the Dec. 24 Wall Street open as “large spot buyers” lifted deflated BTC price action.

Santa rally talk returns as BTC price gains $5,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting new local highs of $98,020 on Bitstamp.

Up by more than 3% on the day, Bitcoin attracted fresh bids after a shaky start to the week saw a retest of December lows.

Commenting on the latest moves, popular X account Exitpump was among the optimists hoping that a “Santa rally” may have come for crypto after all.

“$BTC Large spot buyers showing up, lfg,” a post stated alongside a chart showing exchange order-book volumes.

The latest data from monitoring resource CoinGlass put 24-hour BTC short liquidations at nearly $40 million at the time of writing, with the cross-crypto total at $150 million.

Nice strength in bitcoin today,” fellow analytics account Bitcoindata21 continued alongside a chart showing necessary volume-weight average price (VWAP) levels to reclaim next.

#BTCNextMove #btcsantarally #bitcoinsantarally