It will be a very short week for the holidays, but the backlog of US economic data continues to roll out.
Crypto markets reclaimed the psychological $3 trillion market cap level over the weekend, and for the first time in a while, there has been no late Sunday dump.
The week ahead is likely to be limited in volatility due to subdued trading over the Christmas holiday period. Some GDP data is due, but there are no major market-moving events this week.
A softer US CPI print last week rekindled hopes of a Santa rally, but markets have remained quiet.
Economic Events Dec. 22 to 26
The week will begin with October’s PCE inflation data on Monday, the other major report that the Federal Reserve looks at after the CPI. The Personal Consumption Expenditure report shows prices and real consumer spending for the period.
Tuesday will have the US third-quarter GDP report, which paints a picture of economic growth for the three-month period. Economists expect the US economy to grow in the range of 3% to 3.5%, down from the 3.8% growth recorded in the second quarter.
New home sales data is also due on Tuesday, and on Wednesday, data on October’s durable goods orders will be released.
Key Events This Week:
1. October PCE Inflation data – Monday
2. US Q3 2025 GDP data – Tuesday
3. December CB Consumer Confidence data – Tuesday
4. October New Home Sales data – Tuesday
5. October Durable Goods Orders data – Wednesday
6. Stock Market Closed, Merry Christmas!…
— The Kobeissi Letter (@KobeissiLetter) December 21, 2025
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“Key drivers going forward include comments from the global central banks for the 2026 policy trajectory,” said Vinod Nair, Head of Research at Geojit Investments.
TradFi markets are closed on Thursday for Christmas.
Crypto Market Outlook
Total capitalization was $3.08 trillion, flat on the day, during the Monday morning trading session in Asia. Markets are back to where they were this time last week after recovering from Friday’s dip to a multi-month low.
Bitcoin reclaimed $88,000 over the weekend and has remained above it since, tapping $89,000 briefly on Sunday. The asset was trading at $88,500 at the time of writing and has remained rangebound for the past month.
Ether prices had reclaimed their psychological barrier at $3,000 on Monday morning, but had yet to make any further progress above this level. The altcoins were mixed with minor gains for Tron, Monero, and Hyperliquid, and minor losses for Bitcoin Cash and Leo.
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