The total market capitalization of the cryptocurrency market was slightly above $3 trillion on Christmas Eve.
David Sachs, the White House digital currency official, announced the beginning of the 'golden age' after the U.S. GDP grew at an annual rate exceeding expectations of 4.3% in the third quarter, and the Consumer Price Index rose by less than expected at 2.7% in November, alongside the Federal Reserve's recent cut in interest rates to a range between 3.5% and 3.75%.
Sachs thanked President Donald Trump for these remarkable numbers, saying that the atmosphere is set for a much better 2026.
Gold also recorded a new all-time high price of $4,441.92, and the S&P 500 closed at a new record high of 6,909.79 points on December 23.
Famous television broadcaster Jim Cramer, known for his shows 'Mad Money' and 'Squawk on the Street', said that when a big number comes out, tech stocks like Nvidia, cryptocurrencies, AI, and others drop.
He added: 'The big panic never ends... it's just ridiculous.'
The cryptocurrency market has not yet recovered from the aftermath of the collapse on October 10, when President Trump's anti-China remarks on tariffs wiped out $19 billion in market value and sharply pulled digital assets down.
The total market capitalization of cryptocurrencies has remained nearly stable over the past seven days at around $3 trillion.
Bitcoin decreased by 0.5% over the week, trading at $87,142.71 at the time of this report on Christmas Eve.
Digital analyst Michaël van de Poppe expressed his frustration that Bitcoin is down 35% from its all-time high, even though the Nasdaq, gold, and other commodities reached new peaks, amid cooling inflation and interest rates.
Bitcoin is not the only one suffering on the charts; all other leading cryptocurrencies are not performing any better.
Ethereum declined by 0.4% over the week, reaching $2,927.50.
BNB dropped sharply by 2.5% during the same period, trading at $839.21 at the time of this report. XRP fell by 2.8% to $1.86.
The 'Santa Claus rally' (the expected year-end rise) seems highly unlikely in the digital asset market this year.
