Bitcoin Rises Above R1.5 Million

Bitcoin has just risen above R1.5 million, marking a big moment for fans of the original cryptocurrency. This surge feels like a breath of fresh air after some tough weeks, as Bitcoin rises above R1.5 million and shows real signs of life again.

In Asia trading, Bitcoin rose sharply, topping $90,000 for the first time in a while. That move hints at a possible breakout, especially since the token missed out on the Santa rally that pushed stocks like the S&P 500 to record highs right before Christmas. Bitcoin surges above R1.5 million today, climbing as much as 3.1% to over $90,200 in Singapore on Monday, based on Bloomberg data.

It’s not just Bitcoin doing the heavy lifting, other cryptocurrencies jumped in too. Ether, for one, rose as much as 4% and crossed $3,000, adding to the buzz across the market.

Bitcoin was largely unmoved while the S&P 500 surged to a record close in the lead-up to Christmas. The whole crypto space has been struggling to shake off a weeks-long selloff that kicked off in October. That rough patch came with the liquidation of some $19 billion in leveraged positions, which really shook things up.

Traders have been hesitant to jump back in with big bets ever since that episode hollowed out the market. But now, there are early signs of a shift in mood, and Bitcoin rising feels like the start of something.

Monday’s uptick appears somewhat driven by short-term retail traders taking on growing positions in futures. That’s according to Sebastian Bea, chief investment officer at ReserveOne Inc., a crypto treasury firm. He points out that the Bitcoin funding rate, a key barometer of crypto sentiment, is at its highest level since Oct. 18, per CryptoQuant data. That signals growing demand for bullish bets in the perpetual futures market.

Open interest in Bitcoin futures positions has also bounced back from recent lows. Still, it remains well below the recent peaks that lined up with Bitcoin’s highs back in October, Bea added. The token hit a record of $126,251 on Oct. 6, so there’s still some ground to cover.

Bitcoin surges above R1.5 million comes amid mounting institutional adoption and a series of policy wins under pro-crypto US President Donald Trump. Even with all that going for it, Bitcoin is down about 4% so far in 2025. Bitcoin rising above R1.5 million today might just be the spark that changes the story, as traders watch closely for what comes next in this volatile world.

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