Market updates
Bitcoin ‘Santa rally’ buyers step in to drive BTC price to $98K
Beginner
2024-12-25 | 5m
Bitcoin bulls everywhere may be in for a green Christmas as
BTC price action sees a snap rebound.
Bitcoin
passed $98,000 after the Dec. 24 Wall Street open as “large spot buyers” lifted deflated BTC price action. 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.
Crypto exchange BTC order book data. Source: Exitpump/X
Source:
CoinTelegraph
Futures Market Updates
The Santa rally brought BTC back to $98K and liquidated some $50M in short liquidations.
Bitcoin Futures Updates
Total BTC Open Interest: $61.10B (+0.26%)
BTC Volume (24H): $99.36B (-4.56%)
BTC Liquidations (24H): $21.31M (Long)/$49.14M (Short)
Long/Short Ratio: 49.09%/50.91%
Funding Rate: 0.0094%
Ether Futures Updates
Total ETH Open Interest: $24.00B (+3.46%)
ETH Volume (24H): $35.51B (-30.32%)
ETH Liquidations (24H): $23.72M (Long)/$19.56M (Short)
Long/Short Ratio: 48.05%/51.95%
Funding Rate: 0.0094%
Top 3 OI Surges
BOND: $13.89K (+264.87%)
PHA: $5.05M (+237.77%)
DEXE: $4.90M (+181.16%)
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