Santa maybe
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 8th December 2025.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
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What’s up
Market Goes Green Ahead Of Fed Decision
It's a decidedly green start to the week. Total crypto assets reached $3.2 trillion following a 4% increase since yesterday. As of 9:52 a.m. (EST), Bitcoin was closing in on $91,300. Keep in mind that the largest crypto had drifted to as low as $84,500 going back to the start of last week.
Several Top 20 coins, including ETH, SOL and ADA, recorded 7% gains over the past 24 hours. Today’s mini-rally seems to connect with growing expectations for a Fed rate cut later this week.
Macro stirrings aside, at least one blockchain project seems to have garnered a jolt of momentum all of its own.
Canton, a TradFi-adjacent network designed to facilitate institutional trading of tokenized stocks and bonds, saw its native CC token shoot up 20% in the past day. Last week, Canton’s backer, a firm called Digital Asset, said it secured strategic investments from a slew of Wall Street heavies, including banking behemoth BNY and exchange operator Nasdaq.
What's down
Splashing About In Shallow Liquidity, Bitcoin Whales Spur Weekend Whipsaw
Receding liquidity remains a concern.
Exchange order books — real-time listings of all pending buy and sell orders for any given crypto — took a huge hit back on October 10 when $19B worth of leveraged positions were wiped out. Since then, said Ryan McMillin, CIO, Merkle Tree Capital, “market makers are shy to jump back in.”
By way of example, Bitcoin’s order book liquidity, per Bitget, was close to $20M in early October. But by mid-November, the level had been reduced to $14M.
Yesterday, BTC’s spot price dipped below $90K but quickly rebounded. Sunday’s swinging scene turned “chaotic” in the wake of whale-driven sell orders, BeInCrypto said.
Both long and short traders endured bruising hits (leverage wipe-outs) within a few hours, raising concerns about “order book fragility,” BeInCrypto added.
What's next
Santa Claus Rally Might Be Brewing
We’re now into the second week of December. Christmas trees are going up. Shops and homes are adorned by twinkling lights. Bitcoin is back above $90,000 and talk of a “Santa rally” has begun.
Wednesday’s Fed rate cut decision likely will decide whether a year-end rally is on the table alongside the roasted goose and pudding.
The odds of a cut remain high, with the CME Group’s FedWatch tool putting the probability at roughly 90%. The U.S. job market seems soft but inflation isn’t abating, placing policymakers between a rock and a hard place inside a terrarium surrounded by heat lamps turned on full-blast by the Trump administration. Some Fed officials are hawkish. Some seem torn. Others are on record as fully on board with easing.
Looking into 2026, the London Crypto Club expects a “dovish surprise” with not only rate cuts but also balance sheet expansion through creative bond buying. “We’re moving into a continued rate-cutting cycle, accompanied by the Fed effectively turning on the money printers,” a pair of LCC analysts recently wrote. “That’s a powerful, structural tide to be swimming against in the new year.”
