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New York Knicks delivered one of the most dramatic wins of the NBA season on Thursday, erasing a 17-point fourth-quarter deficit to defeat the Cleveland Cavaliers 126-124 at Madison Square Garden on Christmas Day.

Jalen Brunson led all scorers with 34 points and drilled the go-ahead three-pointer with 1:05 remaining, sealing a comeback that lifted New York to 21-9 and extended its Christmas Day winning streak to three straight seasons.

The Knicks trailed 103-86 early in the fourth quarter before their second unit flipped the game’s momentum with sustained defensive pressure and timely shooting.

Reserve Jordan Clarkson poured in 25 points off the bench, while rookie Tyler Kolek delivered a breakout performance with 16 points and nine assists in just 25 minutes.

Kolek energized the Garden with a late defensive stand on Donovan Mitchell, initially ruled a foul before replay overturned the call, sending fans into chants of his name.

Mitchell Robinson anchored the rally inside, extending possessions with offensive rebounds and finishing with 13 boards despite scoring just two points.

Brunson, Clarkson and Kolek each connected from beyond the arc during a decisive 13-2 run that turned a 12-point deficit into a 111-110 Knicks lead.

Cleveland had controlled much of the night, opening the game on an 18-3 surge behind early shot-making from Donovan Mitchell, who finished with 34 points, seven rebounds and six assists.

The Cavaliers led 38-23 after the first quarter and regained command late in the third when Mitchell capped an 18-4 run with a three-pointer to push the margin to 89-75.

Darius Garland recorded 20 points and 10 assists, while Evan Mobley returned from a five-game absence due to a strained left calf and posted 14 points and nine rebounds.

New York steadied itself in the second quarter after a slow start, hitting 12 of its first 14 shots in the period and using an 18-0 burst to briefly take control.

The Knicks carried a slim 60-58 advantage into halftime before Cleveland reasserted itself with pace and transition scoring in the third.

Statistically, New York’s edge came from the perimeter and the glass when it mattered most, finishing 21-of-44 from three-point range and collecting 12 offensive rebounds.

Cleveland shot 52 percent overall but struggled to close the game after allowing 42 fourth-quarter points.

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The Cavaliers fell to 17-15 and missed an opportunity to secure a third straight victory during their road trip.

Up next, Cleveland travels to Houston on Saturday, while New York heads to Atlanta looking to build on one of its most resilient performances of the season.