December small business optimism climbed to 99.5, exceeding the 99.2 forecast and 99 from the prior month—a solid tick upward. While economic expectations showed meaningful improvement, the hiring impulse softened. Companies held steady on compensation plans but dialed back capital expenditure slightly. The mixed signals here paint an interesting picture: positive sentiment meets cautious deployment. For crypto markets watching macro headwinds, this tells us sentiment remains resilient despite selective pullbacks in growth spending and labor expansion.