Bitcoin surged to $99,500 on Dec. 21, gaining $7,000 in under 24 hours after a sharp drop to $92,000. The rebound followed significant buying on Coinbase, offsetting sell-side pressure and record Bitcoin ETF outflows.
Data shows BTC/USD spiked despite December lows, with bulls targeting the $100,000 mark. The absence of institutional trading didn’t hinder the rally, as U.S.-based exchange Coinbase led buying activity.
“Coinbase buying a lot since lows,” noted trader Exitpump, highlighting increased volumes compared to Binance. Bulls now aim to reclaim six figures as the weekend begins.
Source: Cointelegraph
