Bitcoin Santa Rally Back on Track With $120K in Focus

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Bitcoin approached $90,000 amid Santa rally speculation, backed by bullish derivatives and chart patterns that target a BTC price above $100,000.

Bitcoin charged toward $90,000 during the early Asia trading hours on Monday as a key market metric suggested a “tactical” upside potential for BTC price. 

Bitcoin is up 6.5% from recent lows, fueling "Santa Rally" hopes with targets up to $120,000. 

Short liquidations are dominating, which can provide fuel for the bulls.

Bitcoin price must not fall below $84,000 for a sustained recovery.

”Santa rally” talk returns as BTC gains $5,000
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting an intra-day high of $89,850, up 6.5% from a local low of $84,400.

Bitcoin is “looking for a Santa Rally,” analyst AlphaBTC said in an X post on Monday.

An accompanying chart suggested that the ongoing recovery could see the BTC/USD pair rise higher, first toward the yearly open at $93,300 and later toward the $98,000 and $100,000 resistance zone.


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