Bitcoin rebounds strongly from its lowest closing in nearly a month.

Bitcoin experienced a strong rebound during trading on Tuesday, as the most widely used and highest market capitalization cryptocurrency managed to gain over $5,500 today, after recording its worst closing in more than a month in yesterday's session.

The rise in Bitcoin today came amidst investors' preparations for the year-end holiday, benefiting from what is termed the "Santa Claus Rally," as the return of the elected U.S. President Donald Trump to the White House approaches.

In terms of trading, Bitcoin BTC jumped about 6% or approximately $5,672 to record $98,476, while other major cryptocurrencies in the market also saw a resurgence, with Ethereum ETH rising by about 3.4% to $3,487.63, and Solana SOL increasing by around 3.57% to $197.14.

Additionally, Dogecoin DOGE surged by 5.09% to 34 cents, while Ripple XRP added about 5.30% or equivalent to 12 cents to reach $2.34, and Shiba SIBA rose by around 2.93% to $0.00002312, following an increase of about 936% in the burning of the currency.