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Markets just hit a milestone—the S&P 500 wrapped up Christmas Eve trading at 6,932, marking fresh all-time highs. This caps off what traders are calling the 2025 "Santa Rally." The rally reflects broad investor sentiment heading into year-end, signaling strength across major indices. For crypto and macro traders watching traditional markets, this momentum in equities often correlates with risk-on sentiment in digital assets. Whether this rally sustains into the new year remains a question, but the current trajectory shows institutional confidence persisting through the holiday period.