Derived from CoinTelegraph, Bitcoin (BTC) experienced a significant price surge on December 24, reaching $98,020 on Bitstamp. This increase was attributed to 'large spot buyers' who drove the price up by over 3% in a single day. The rally comes after a challenging start to the week, which saw Bitcoin retesting December lows. Data from CoinGlass indicated that BTC short liquidations amounted to nearly $40 million within 24 hours, contributing to a total of $150 million in cross-crypto liquidations. Analysts and traders on platforms like X expressed optimism about the 'Santa rally,' although some, like Rekt Capital, advised caution, noting previous rejections at similar price levels. Bitcoin's performance outpaced US stocks, with the S&P 500 and Nasdaq 100 rising by less than 1%.
Bitcoin Price Surges to $98K Amid 'Santa Rally' on December 24
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