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Cryptocurrency markets are trading higher on Christmas eve, prompting traders to predict a bullish end to the year.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin BTC/USD</td><td>&nbsp;$98,100.74</td><td>+5%</td></tr><tr><td>Ethereum ETH/USD</td><td>&nbsp;$3,478.79</td><td>+4%</td></tr><tr><td>Solana SOL/USD</td><td> $196.49</td><td>+6%</td></tr><tr><td>XRP XRP/USD</td><td>&nbsp;$2.31</td><td>+6.1%</td></tr><tr><td>Dogecoin DOGE/USD</td><td>&nbsp;$0.3338</td><td>+6.9%</td></tr><tr><td>Shiba Inu SHIB/USD</td><td>&nbsp;$0.0000231</td><td>+6.8%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 158.7%. Transactions greater than $100,000 are up from 7,495 to 10,784 in a single day. Exchanges netflows are down by 233.05%.</li>



<li>Coinglass data reports 88,733 traders were liquidated in the past 24 hours for $250.33 million.  </li>
</ul>



Notable Developments:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42667518/deribit-eyes-growth-in-asset-backed-crypto-with-pax-gold-debut">Deribit Eyes Growth In Asset-Backed Crypto With Pax Gold Debut</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42667932/did-vladimir-putin-just-ban-bitcoin-mining-in-russia-the-devil-is-in-the-details">Did Vladimir Putin Just Ban Bitcoin Mining In Russia? The Devil Is In The Details</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42665539/north-korean-hackers-suspected-presence-triggers-over-500-million-in-outflows-from-crypto-exchange">North Korean Hackers&#8217; Suspected Presence Triggers Over $500 Million In Outflows From Crypto Exchange</a></li>



<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42666635/blackrocks-bitcoin-etf-could-outshine-sp-500-tracking-spy-to-become-top-investment-vehicle-but-it-will-take-a-long-time-says-prominent-analyst">Blackrock&#8217;s Bitcoin ETF Could Outshine S&amp;P 500-Tracking SPY To Become Top Investment Vehicle But It Will Take A &#8216;Long&#8217; Time, Says Prominent Analyst</a></li>
</ul>



Top Gainers:



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Pudgy Penguins PENGU/USD</td><td>&nbsp;$0.03587</td><td>+35.7%</td></tr><tr><td>Bitget Token (CRYPTO: )</td><td>&nbsp;$4.90</td><td>+21.9%</td></tr><tr><td>Virtuals Protocol VIRTUAL/USD</td><td>&nbsp;$3.13&nbsp;</td><td>+20.6%</td></tr></tbody></table></figure>



Trader Notes: Bitcoin prices are trading higher, and crypto trader Jelle has shared a straightforward strategy for navigating the market.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bull market Christmasses tend to be wild. Bull market Januaries tend to be bullish. Keep it simple. <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/Msb55w8EqN">pic.twitter.com/Msb55w8EqN</a>&mdash; Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1871111818732798092?ref_src=twsrc%5Etfw">December 23, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, Rekt Capital <a href="https://x.com/rektcapital/status/1871577852291727666">observed</a> that Bitcoin attempted a relief rally yesterday but was rejected near recent lows. 



Today, it&#8217;s rebounding and testing former support levels, which now act as resistance. 



If resistance holds, further downside is likely. However, reclaiming these levels could signal a bullish reversal.



Trader Satoshi Flipper <a href="https://x.com/SatoshiFlipper/status/1871560106111914201">reflected</a> on Bitcoin&#8217;s recent 15% correction and altcoins dropping 25-50%. 



He questions whether this marks the local bottom or if future corrections will follow a similar pattern.



While its possible, certainty remains elusive. 



The trader wonders if history is repeating or rhyming, acknowledging it&#8217;s too early to draw conclusions. Investors can afford to wait, but traders remain cautious.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42668043/if-you-gave-your-loved-ones-a-150-bitcoin-christmas-gift-in-2022-itd-be-worth-more-than-what-an-average-american-spends-on-the-holiday-in-2024">If You Gave Your Loved Ones A $150 Bitcoin Christmas Gift In 2022, It&#8217;d Be Worth More Than What An Average American Spends On The Holiday In 2024</a></li>
</ul>



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Bitcoin, Ethereum, XRP, Dogecoin Surge Around 5% In Christmas Eve 'Santa Rally' 

Khyathi Dalal

Cryptocurrency markets are trading higher on Christmas eve, prompting traders to predict a bullish end to the year.

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Bitcoin, Ethereum, XRP, Dogecoin Surge Around 5% In Christmas Eve 'Santa Rally'

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