According to Eric Balchunas, Bitcoin traders should keep perspective after a weak year-end as he notes that crypto saw no Santa rally this year but massively outperformed last year, leaving BTC holders still net ahead versus other assets on a multi-year view (source: Eric Balchunas on X, Dec 24, 2025). According to Eric Balchunas, his post frames this seasonality miss alongside Mark Chadwick’s observation that every asset class rallied except crypto, underscoring that crypto’s year-end pattern can diverge from traditional markets (source: Eric Balchunas on X, Dec 24, 2025; source: Mark Chadwick on X, referenced by Balchunas). According to Eric Balchunas, the takeaway for traders is to avoid over-reliance on a Santa rally setup in BTC and instead benchmark expectations against prior outsized gains, as relative performance base effects can drive consolidation (source: Eric Balchunas on X, Dec 24, 2025). According to Eric Balchunas, this context supports a trading approach that emphasizes risk control and patience over chasing year-end seasonality in BTC, given his emphasis on net outperformance despite a flat holiday period (source: Eric Balchunas on X, Dec 24, 2025).