December 19th, Traders spent most of December speculating whether the typical year-end "Santa Rally" would materialize as expected. The S&P 500 index rose 0.8% on Thursday, ending a four-day losing streak that had persisted earlier in the month. Drawing on historical trends, the stock market may continue its ascent: Castle Securities' data shows that since 1928, the S&P 500 index has had a 75% probability of rising in the last two weeks of December, with an average gain of 1.3%The Goldman Sachs trading desk team, including Gail Hafif, stated: "It will be hard to resist the seasonal tailwind we are about to enter and a more favorable positioning unless there is a significant shock. Though we do not necessarily expect a sharp rally, we do see room for further upside from here through year-end." (FXStreet)

December 19th, the probability of the prediction "Bitcoin will rise to $100,000 again this year" on Polymarket is currently at 11%. Additionally, the probability of it rising to $95,000 again is currently at 32%, and the probability of falling below $80,000 is currently at 24%.

December 19th, according to HyperInsight monitoring, since October, several well-known whales and traders have either liquidated their positions at breakeven or incurred significant losses due to market volatility. Here are some of the previously reported addresses:「Bullish on ETH After 10.11 Crash」 Last Trade: ETH long position on November 7th incurred a $2.28 million loss, exited after a total loss of $9.32 million over two months;「Whale Liquidated for $97 Million」 Last Trade: ZEC short position on November 20th incurred a $0.56 million loss, liquidated at breakeven after a $6.25 million loss in 30 days, this trader is also a well-known player on Roobet and Stake.com;「BTC Bottom Buyer in November」 Last Trade: ETH long position on November 18th profited $0.91 million, partially recovering from a $7.30 million loss that day, exited after a $5.77 million loss in 30 days;「WLFI Advisor Ogle」 Last Trade: BTC long position on October 16th incurred an $0.80 million loss, exited with a small $3.24 million loss over 60 days;「100% Win Rate Whale」 Last Trade: ZEC long position on November 11th profited $12,000, after multiple misjudgments of the market in the previous two months, resulting in a painful loss of $31.80 million.In addition, according to HyperInsight monitoring, the following traders are still in the market with significant unrealized losses:「Bestie Huang Licheng」 Current Position: ETH long position with an unrealized profit of $0.15 million, previously on a 70-trade losing streak, incurring losses of $36.00 million;「Bullish on an Altcoin Basket」 Current Position: Long positions in 10 different altcoins with an unrealized loss of $0.59 million; since November, consecutively long on 22 different coins, accumulating losses of $7.00 million in a month;「BTC OG Insider Whale」 Current Position: Long positions in the top three mainstream coins, with an unrealized loss of $47.00 million;「1kx Fund Co-founder Related Address」 Current Position: Long position in ENA with an unrealized loss of 1014%; recently liquidated at $1.71 million, accumulating losses of $6.18 million over two months;「Coolheaded Order Placer」 Current Position: Short positions in BTC and SOL with an unrealized loss of $0.06 million, previously achieved a $25.00 million unrealized gain within 60 days, followed by a complete loss.「Staunch Bullish HYPE」 Current Position: HYPE Long Position with an Unrealized Loss of $19.8 million, a Two-Month Loss of $22.25 million, previously suspected to be a whale insider in HYPE listing.

December 19, Binance Alpha has launched zkPass (ZKP), with the current coin price at $0.21 and a market cap of $42 million. Eligible users can receive an airdrop of 200 ZKP tokens, worth about $42 based on the current price.

December 19, Binance Alpha listed a new token zkPass (ZKP).

December 19th, Fidelity's Global Macro Director Jurien Timmer stated in a post on X platform that, although still bullish on Bitcoin in the long term, Bitcoin may have completed another four-year halving cycle, both in terms of price and time: After 145 months of uptrend, the $125,000 high reached in October this year is largely in line with expectations. Bitcoin's winter typically lasts about a year, so 2026 may be a "dormant year" for Bitcoin, with support between $65,000 and $75,000.In addition, Jurien Timmer also highlighted gold's strong performance in 2025, contrasting it with Bitcoin's negative performance, and expects neither of these assets to experience mean reversion in the short term. He pointed out that gold is currently in a strong bull market, having risen about 65% year to date, outpacing the growth of the global money supply. In a recent pullback, gold has held onto most of its gains, which is a typical feature of a bull market.

December 19th, according to Onchain Lens monitoring, Ethena Labs transferred 23.3 million ENA to FalconX 9 hours ago (approximately $4.74 million), likely for the purpose of selling. The wallet currently still holds 123.4 million ENA, worth around $25 million.

December 19th, in the Sui ecosystem, Perp DEX Astros announced that its newly launched Astros Vault has accumulated over $1.7 million in deposits within 3 days of its launch.It is reported that Astros Vault provides users with a dual incentive mechanism of Yield + Points, offering a way for users to achieve both stable returns and long-term ecosystem participation. It is linked to the Astros Perp DEX's points system, continuously enhancing user engagement and capital efficiency.With the gradual implementation of Ores, the leaderboard, Vault, and multiple incentive mechanisms, Astros is accelerating the improvement of its trading and yield product matrix in the Sui ecosystem, bringing users a more diverse and sustainable on-chain trading experience.

December 19, CryptoQuant posted data on social media indicating that the Bitcoin demand frenzy is subsiding. This cycle has seen three waves of spot demand surges, and the latest one appears to be coming to an end.Since early October, demand has been consistently below trend levels, which could create downward pressure on the price.

December 19th - A research report by RWA.io highlighted that while blockchain technology has accelerated innovation, it has also created liquidity barriers, hindering capital's free flow across networks. As a result, tokenized real-world assets (RWA) are increasingly resembling fragmented markets rather than a unified financial system.The research found that despite representing the same underlying asset, identical or economically equivalent assets on different blockchains continue to have price divergences. Additionally, transferring capital across networks remains costly and complex. These inefficiencies impede the market's ability to self-correct through arbitrage and achieve efficient price discovery.The report stated that one of the most apparent consequences of this fragmentation is the continual price differentiation of the same asset issued on different chains. Economically identical tokenized assets often exhibit a trading price difference of 1% to 3% across different major networks. In traditional finance, arbitrage activities would swiftly eliminate such market discrepancies. However, due to technical barriers, costs, delays, and operational risks, cross-chain arbitrage remains challenging to execute, with the cost of asset transfer often exceeding the price difference itself, leading to persistent inefficiencies.In addition to price discovery, RWA.io estimates that transferring capital between non-interoperable chains results in a loss of 2% to 5% per transaction due to exchange fees, slippage, transfer costs, Gas fees, and timing risks. The report's model indicates an average loss of approximately 3.5% per capital reallocation. If this fragmentation pattern continues, the friction cost could siphon off around $600 million to $1.3 billion from the market annually.Marko Vidrih, Co-Founder and COO of RWA.io, stated: "This fragmentation is the most substantial obstacle for the market to realize its trillion-dollar potential." He added, "In traditional finance, the SEPA Instant Payment directive within the EU has shown how value can move across accounts in seconds. Tokenized assets should also flow frictionlessly in a similar manner."