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Bitcoin 'Santa rally' pauses at $51.5K as funds bet on a sub-$60K BTC price for January 2022
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Bitcoin (BTC) lost momentum at $51,500 on Dec. 24 as traders weighed the odds of a "Santa rally" coming true for Christmas.
Data from Cointelegraph Markets Pro and TradingView saw BTC/USD preserve its gains from Thursday, these totalling 6% with resistance most recently kicking in at just above $51,500.
Opinions were mixed among weary traders about the strength of the rally and whether it could endure for long.
Still in its familiar range despite the overnight uptick, Bitcoin needed to show its muscle on longer timeframes, Cointelegraph reported analysis as saying earlier.
For filbfilb, co-founder of trading platform Decentrader, a combination of low funding rates and top traders turning long at the expense of more bearish retail among other
Read more on cointelegraph.comAbout this in other media
Bitcoin reaches for $47K as analysts agree BTC price consolidation cannot last cointelegraph.com /2 years ago
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Bitcoin dips below $47K as US dollar surge dampens BTC price performance cointelegraph.com /2 years ago
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