The S&P 500 index is expected to rise for eight consecutive months, while Bitcoin surged to 90K before pulling back.

NVIDIA and TSL led the pump, with the S&P 500 index likely to rise for the eighth consecutive month, setting the longest winning streak since 2018. Bitcoin rose gently from 88K yesterday, reaching a high of $90,588, but fell after the US stock market opened, not following the rise of tech stocks, and returned above 88K before the deadline.

NVIDIA and TSL lead the pump, and the S&P is expected to rise for the eighth consecutive month.

NVIDIA and Tesla are leading the pump, as the S&P 500 index approaches the 7,000-point mark, with the index expected to rise for the eighth consecutive month, setting the longest winning streak since 2018. The S&P 500 index has risen 17% so far this year, recording increases of over 24% and 23% in 2023 and 2024, respectively.

The Christmas season is approaching, and traders have been speculating whether the typical year-end “Santa Claus rally” will occur. The “Santa Claus rally” usually refers to the last five trading days of the year and the first two trading days of the new year. According to data from Citadel Securities, since 1928, the S&P 500 index has a 75% chance of rising during the last two weeks of December, with an average gain of 1.3%.

The New York Stock Exchange will close early on Christmas Eve (1/24) and will be closed on Christmas Day (1/25). The market is experiencing lighter trading towards the end of the year, with U.S. GDP data on Tuesday and initial jobless claims on Thursday still to come this week.

Wall Street is optimistic about 2026.

Major investment banks on Wall Street have released their year-end target prices for the S&P 500 index for 2026, with these target price forecasts being the closest in nearly a decade. Oppenheimer & Co.'s highest forecast is 8100 points, while Stifel Nicolaus & Co.'s lowest forecast is 7000 points, with only a 16% difference in their annual forecast values.

This synchronized market viewpoint is often seen as a contrarian signal—when everyone tends to lean in the same direction, market imbalances often correct themselves. Moreover, when this perspective emerges, the market risks also become evident. Nevertheless, strategists still believe on average that even after achieving double-digit returns for three consecutive years, the stock market will see greater pumps in 2026.

Bank of America analyst Moynihan stated that the economic benefits of artificial intelligence are “becoming increasingly evident.”

Steve Sosnick of Interactive Brokers pointed out that the positive news already reflected in market prices includes: the Federal Reserve will adopt a loose monetary policy, with at least one, possibly two interest rate cuts; the earnings of the S&P 500 index will grow by about 14%; and the fiscal stimulus from the recently passed tax law.

Bitcoin surged to 90K and then fell back.

Bitcoin gradually pumped from 88K yesterday, reaching a high of 90,588 USD, but after the US stock market opened, it fell and did not follow the rise of tech stocks, returning above 88K before the deadline.

Compared to gold and silver, which once again set historical highs yesterday, Bitcoin did not benefit from this wave of depreciation trading.

The total market capitalization of cryptocurrencies has decreased by 0.12% to $2.99 trillion, and the Fear and Greed Index remains in the fear zone at 29. Bitcoin's market cap accounts for as much as 59%, indicating a tendency towards defensive strategies in the market.

Cryptocurrency hedge funds are likely to deliver their worst performance since 2022 in 2025, with directional funds down 2.5%, while fundamental strategies and those focused on altcoins have fallen by about 23% as of November. Especially in the shadow of significant liquidations in October, cracks have appeared in crypto infrastructure, and market participants who have been too heavily injured may not be able to return to the market with the same strength anytime soon.

(Under Trump's crypto-friendly policies, will the performance of crypto hedge funds be bleak in 2025?)

This article indicates that the S&P 500 index is expected to rise for eight consecutive months, while Bitcoin surged to 90K before retreating, first appearing in Chain News ABMedia.