The crypto market is holding its ground with a modest uptick—total market cap edged up 0.33% to $3.01 trillion. Bitcoin slipped 0.23%, while Ethereum showed more resilience, gaining 1.83%.

Holiday season is taking its toll on liquidity. With fewer traders active, daily liquidations have stayed unusually tame, mostly hovering under $200 million and sometimes dipping below $100 million. This thin liquidity environment is actually keeping things relatively calm—fewer forced closures means less violent swings.

Funding rates across the board remain subdued, which typically signals weak conviction. However, there's an interesting divergence emerging: select altcoins are showing upticks in leveraged demand, suggesting traders are rotating attention toward specific projects rather than betting broadly on the market.

Meanwhile, traditional equities are stumbling into headwinds of their own, which could spillover effects on sentiment. Worth keeping an eye on.