Bitcoin Finds Its Voice Above $90K After Sitting Out the Santa Rally

Bitcoin climbed sharply in Asian markets on Monday, topping US$90,000 for the first time in recent sessions, suggesting a potential breakout after missing out on a year-end “Santa rally” that propelled global equities to fresh records.

In Singapore trading, the original cryptocurrency rallied as much as 3.1%, briefly exceeding US$90,200, according to Bloomberg, while Ether also climbed over 4%, reclaiming the US$3,000 threshold.

Despite a strong rally in the stock market over the holidays, Bitcoin had remained largely subdued, failing to mirror the broader risk-asset advance. The broader crypto market is still digesting losses from a prolonged sell-off that began in October, which saw an estimated US$19 billion of leveraged positions liquidated.

Sentiment among traders appears to be shifting. ReserveOne’s Chief Investment Officer Sebastian Bea noted the rally may be “driven by short-term retail traders increasing their futures positions.” He also pointed out that the Bitcoin funding rate — a key sentiment gauge — has climbed to its highest level since mid-October, indicating growing demand for bullish futures exposure. Open interest has rebounded from recent lows, though it remains well below levels seen during October’s peaks when Bitcoin set an all-time high above US$126,000.

Bitcoin’s move back above US$90,000 signals a tentative shift in market sentiment after weeks of caution triggered by October’s mass liquidations. While institutional interest and regulatory clarity continue to provide a strong backbone for long-term adoption, short-term price action still appears driven by futures positioning and renewed retail risk-taking. If funding rates and open interest continue rising without excessive leverage, Bitcoin could regain upward momentum into early 2026 — but traders should remain aware that volatility and profit-taking could temper any breakout attempt in the near term.