According to @KobeissiLetter, the S&P 500 posted a record close at 6,910, up 43% since the April 2025 bottom, underscoring an ongoing Santa Rally, source: @KobeissiLetter (Dec 23, 2025). Historically, rising U.S. equities have coincided with stronger crypto performance as stock-crypto correlations increased markedly post-2020, source: IMF (Crypto Prices Move More in Sync With Stocks, Jan 2022) and BIS (Crypto shocks and spillovers, 2023). For trading, monitor BTC and ETH momentum and cross-asset correlations with the S&P 500 for potential risk-on spillover, aided by late-December seasonality in equities, source: IMF 2022; BIS 2023; LPL Research (The Santa Claus Rally, 2023).