🐺Software Holds Its Ground, Crypto Rebounds

Hey everyone! Sam here (AKA @SamSolid57 on X)

I drop into your inbox a few times a week, breaking down the biggest stories in finance and the moves that matter most.

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Despite constant headlines about AI disruption, many core software names are not trading as if their businesses are being structurally impaired. Companies like ServiceNow, Adobe, Salesforce, and MongoDB continue to post recurring revenue growth, strong renewal rates, and expanding margins, even as multiples compress.

That said, the market is clearly differentiating. Stocks tied to usage-based models or slower AI monetization have seen more pressure, while platforms embedding AI directly into workflows are holding up better. This isn’t blind optimism, but it’s also not a collapse. The tape suggests investors are debating how fast AI changes software economics, not whether these companies survive.

Bitcoin has rebounded sharply from the 80k lows and is now trading around 89k, while Ethereum has reclaimed 3,000 after dipping into the mid-2,000s. The move reflects a stabilization in risk sentiment after forced selling and leverage flushes earlier this month.

Whether this turns into a sustained trend is still unclear. Crypto remains highly sensitive to liquidity, rates, and equity volatility, but the ability to bounce this hard off the lows keeps the longer-term bull case alive, even if near-term chop persists.

This is a holiday-shortened trading week, with U.S. markets closed on Christmas Day. Liquidity is expected to be thin, and moves can be exaggerated in either direction.

Historically, this period can bring quiet consolidation or sharp, low-volume moves as positioning lightens into year-end. For investors, it’s more about risk management than prediction until normal volume returns.

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