Bitcoin's price rebounded to over $98,000 on December 24, driven by significant spot buying activity following a retest of earlier December lows. The price surged by more than 3% during the day, reaching local highs of $98,020 on exchanges like Bitstamp. This surge triggered discussions of a 'Santa rally' for Bitcoin, sparking optimism among traders. Notably, liquidations reached about $40 million in 24 hours, contributing to market volatility. Analysts express caution, noting that while Bitcoin is showing some strength and has broken initial resistance levels, there remains a risk of further downside if previous support levels fail to hold. Comparatively, Bitcoin's performance surpassed US stock indexes, which only saw minor increases. Overall, the market remains watchful of Bitcoin’s ability to maintain upward momentum amid potential resistance levels.

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