The cryptocurrency market is experiencing a period of stagnation despite recent positive macroeconomic and regulatory developments. Bitcoin and leading altcoins are struggling to gain upward momentum as bullish factors appear to be already priced in. The market's current state reflects a lack of new catalysts, with traders reacting only to unexpected developments, which have been scarce. December's typically low liquidity is exacerbating the market's sluggishness, and the divergence between Bitcoin and altcoins suggests a defensive stance among investors. Market participants are now on the lookout for a significant catalyst that could potentially drive a new price movement.