The post Bitcoin Surges to $99,480: A Merry Christmas for Crypto Investors Amid Strong Market Rally appeared on BitcoinEthereumNews.com.

COINOTAG News, December 25th – Recent reports from 4E monitoring indicate a decisive rebound in the US stock market on Christmas Eve, with all three major indices demonstrating robust gains. Notably, crypto-related equities performed exceptionally well, with Coinbase witnessing a close at 4.28% higher and MicroStrategy (MSTR), often referred to as a “Bitcoin whale,” rising by 7.81%. This uptrend in the crypto market followed a brief pullback, effectively delivering a “green Christmas gift” to investors. Bitcoin’s price action was particularly striking, as it surged past multiple critical resistance levels, peaking at $99,480 at midnight before settling back slightly to $98,047, reflecting a 4.35% increase over 24 hours. Moreover, the uplifting momentum propelled many major altcoins, with Ethereum briefly exceeding $3,500 and SOL crossing $200, signifying a notable rise in overall market sentiment. Historical analysis reveals that since 1950, the period known as the “Santa Claus Rally”—comprising the last five trading days of the year and the first two of the new year—has yielded significantly higher average returns for the S&P 500 compared to the typical seven-day return. Observations suggest that the continuing upswing in the markets, particularly on Tuesday, may herald the onset of this annual rally, potentially setting the stage for further positive market trends. Source: https://en.coinotag.com/breakingnews/bitcoin-surges-to-99480-a-merry-christmas-for-crypto-investors-amid-strong-market-rally/

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Filed under: News - @ December 25, 2024 3:13 am