Crypto Market Update: December 22
**Market Overview- Crypto Prices Muted:**
Crypto prices are sliding during the U.S. trading session, with Bitcoin (BTC) retreating from levels above $90,000 to around $88,000.
-Gold SurgesGold breaks a new record, touching a high of $4,475 per ounce, a 2% rise, while silver too reaches a new record.
**Market Sentiment- Risk Assets**: The crypto markets are performing poorly against traditional assets, as investors are moving towards safe-haven assets such as gold.
- Investor Behavior: It is believed that Bitcoin may have stalled in its rise while the bull market in gold is still intact.
Sector Performance - AI-Related Stocks: Companies that are bitcoin miners turning to the development of AI infrastructure and high-performance computing are performing well, with Hut 8 (HUT) gaining 17.5%. - Crypto Related Stocks:
The stocks of Circle, Coinbase, and Galaxy Digital are also trending higher. CRCL, COIN, and GLXY are Outlook: Bitcoin - BTC Analysts From ByteTree Explain That a Bitcoin Rally Could Be Impacted Until the Precious Metals Market Calms Down - Market Trends: Nevertheless, Bitcoin has performed better than the metals market over the past few years.
