The White House crypto czar David Sacks announced the dawn of “Golden Age” as the U.S. gross domestic product (GDP) grew at the more-than-expected annual rate of 4.3% in Q3, the consumer price index (CPI) rose at the less-than-expected rate of 2.7% in November, and the recent lowering of interest rates by the Federal Reserve to the range of 3.5% to 3.75%.
Sacks thanked President Donald Trump for the impressive figures and said the table is set for an “even better 2026.”
Gold’s price also hit an all-time high of $4,441.92 and the S&P 500 posted a new record close of 6,909.79 on Dec. 23.
Related: Samson Mow ‘fires’ Wall Street analyst over Bitcoin prediction
Popular TV personality Jim Cramer, well-known for his shows “Mad Money” and “Squawk on the Street,” said that when a big number drops, tech stocks like Nvidia, crypto, AI, etc. go down.
“The big freakout–never ends. It is just STUPID,” he remarked.
Cramer isn’t wrong.
The crypto market has still not been able to recover from the aftermath of the Oct. 10 crash, when President Trump’s anti-China tariff remarks wiped out $19 billion in market value and dragged digital assets sharply lower.
The total crypto market cap has been nearly flat for the last seven days at $3 trillion.
Bitcoin (BTC) has slipped 0.5% in a week to trade at $87,142.71 at the time of writing on Christmas Eve.
Crypto analyst Michaël van de Poppe expressed frustration at the fact that Bitcoin is 35% lower than its record high despite Nasdaq, gold, and commodities peaking and inflation and interest rates cooling.
It’s not that only Bitcoin is doing terribly on the charts. No other leading cryptocurrencies are doing any better.
