Bitcoin Surges 5% on Christmas Eve, Delivering Gains to Crypto Investors — Insights from TradingView News

On Christmas Eve, Bitcoin embraced the festive spirit, bestowing cheerful traders with substantial profit boosts.

• The price of Bitcoin bounced back from a three-day slump on the night before Christmas, as enthusiastic investors propelled the renowned cryptocurrency up over 5%. The seminal coin soared to a high of $99,000 from a prior low of $93,000 for each unit, igniting discussion of a possible “Santa rally” as the end of the year draws near. As the year’s tumultuous trading comes to a close, Bitcoin can brag about an awe-inspiring annual rise of 123%.
• Adding to the excitement is the burgeoning potential for the crypto market under the administration of newly re-elected President Donald Trump. He has brought together a team of magnates and innovators to guide the future of cryptocurrencies and facilitate their expansion to gain broader interest and attract institutional investors. To date, only a pair of cryptocurrencies have been honored with their dedicated spot on Wall Street through spot exchange-traded funds: namely, eleven Bitcoin ETFs and nine Ethereum ETFs.
• Other digital assets are also preparing for their time in the limelight. Tokens like Solana SOLUSD, XRP (XRP/USD), and the less familiar RSR (RSR/USD) are believed to have their own exchange-traded funds debut next year as Paul Atkins, a known cryptocurrency enthusiast, is anticipated to replace current SEC Chair Gary Gensler and lead a wave of deregulation in the cryptocurrency sector.