Gold hits a new all-time high: Why was Bitcoin's price completely stable on Christmas Eve?

Gold prices reached $4,483 per ounce on December 25, 2025, with a cumulative increase of 74.8% over the past year.

Meanwhile, Bitcoin prices appear relatively calm. According to Gate market data, BTC is trading at $87,683, with a 24-hour change of only +0.01%.

01 Market Divergence

The financial markets on December 25, 2025 show a rare divergence. Gold, as a traditional safe-haven asset, has soared in price, breaking historical records and demonstrating strong upward momentum.

At the same time, Bitcoin, often regarded as “digital gold,” appears relatively weak. Although its price remains high, it is still far from the recent peak in mid-November 2025.

This divergence is especially prominent during the special moment of Christmas Eve, reflecting differing choices among various investor groups in the current economic environment. Traditional investors seem more inclined to allocate funds into physical precious metals, while cryptocurrency investors are more cautious.

02 Gold Performs Strongly

The gold market performed exceptionally well at the end of 2025. As of December 25, gold prices reached $4,483 per ounce, setting a new all-time high.

Compared to the previous day, gold increased by $15; over the past month, it rose by 9.8%; even more notably, compared to a year ago, gold has accumulated an increase of $1,919, a rise of 74.8%.

Other precious metals also performed well. Silver is at $72 per ounce, platinum at $2,281 per ounce, and palladium at $1,764 per ounce. This broad increase reflects the overall strength of the precious metals market.

Looking at longer-term historical data, from 1971 to 2024, gold has an average annual return of 7.9%, slightly below the stock market’s 10.7%, but during periods of economic uncertainty, gold’s value as a safe asset becomes even more apparent.

03 Bitcoin on Christmas Eve

Contrasting with the hot gold market, Bitcoin’s performance on Christmas Eve appears relatively subdued. Gate market data shows that as of December 25, BTC is priced at $87,683, with a 24-hour change of only +0.01%.

Technical analysis indicates that Bitcoin currently faces $86,418 support and $88,056 resistance. This price range contrasts sharply with recent highs.

Reviewing Bitcoin’s recent trend, the price has significantly retreated from its high in mid-November 2025. Yahoo Finance data shows that Bitcoin reached $101,674.15 on November 13, but by December 24, it was only $87,414.00.

Market sentiment indicators also reflect investor caution. According to Gate data, the current cryptocurrency Fear & Greed Index is 23, in the “Extreme Fear” zone. This suggests investor sentiment is becoming conservative, with risk appetite reduced.

04 Market Sentiment and Capital Flows

Current financial market sentiment is markedly divergent. On one hand, traditional investors are worried about economic uncertainty, shifting funds into gold and other traditional safe assets. On the other hand, cryptocurrency investors, after recent volatility, are becoming more cautious.

In terms of capital flows, the strong performance of the gold market has attracted significant inflows. Investment products related to gold, such as gold ETFs and gold IRAs, are favored by investors. Many experts believe that in the current environment of inflation and uncertainty, allocating assets to gold helps diversify portfolio risk.

The crypto market shows different capital movement. While mainstream cryptocurrencies perform relatively steadily, some altcoins have experienced notable volatility. For example, according to Gate data, MEMUSIC has a 24-hour increase of 28.49%, TRC up 24.82%, and CELA up 22.09%.

This divergence indicates that, amid overall cautious market sentiment, funds are seeking opportunities in different directions. Some investors prefer traditional safe assets, while others look for high-potential small projects within the crypto space.

05 Investment Strategies and Market Outlook

For investors, the current market environment presents new challenges and opportunities. Gate recommends short-term strategies such as buying the dip in mainstream assets and setting reasonable take-profit and stop-loss levels.

In medium-term positioning, the continuous influx of institutional funds remains a key driver. Investors should also pay attention to the impact of year-end portfolio rebalancing and other critical events. Additionally, caution is advised regarding systemic, individual, and regulatory risks.

From an asset allocation perspective, gold can serve as an important component of a diversified portfolio, providing inflation hedging. Its long-term store of value makes gold particularly attractive during periods of economic uncertainty.

For cryptocurrency investors, Gate suggests adopting a more cautious approach. While oversold conditions may exist during extreme fear, it is prudent to wait for stabilization signals before deploying new positions, and to closely monitor key support levels and market changes.

06 Comparing Two Stores of Value

Gold and Bitcoin are often seen as stores of value for different eras, but in the current market environment, they exhibit distinct characteristics. Gold, as a physical asset, has its value validated over thousands of years, especially during economic turmoil.

Gold investment methods are diverse, including bars, coins, ETFs, and futures. Gold IRAs are also increasingly popular, allowing investors to participate in the gold market without directly holding physical gold.

Bitcoin, on the other hand, embodies digital age store of value concepts. It is not controlled by any central authority and has a fixed supply, making it attractive as a tool against inflation for some investors.

However, Bitcoin’s price volatility is much higher than gold’s. For example, from November 13 to December 24, 2025, Bitcoin’s price dropped from $101,674.15 to $87,414.00, a decline of about 14%.

Future Outlook

The surge in gold prices past the $4,483 mark and Bitcoin’s oscillation around $87,000 form a stark contrast. Gate data shows the cryptocurrency market’s Fear & Greed Index is only 23, indicating extreme caution among investors.

Gold’s strong performance partly stems from ongoing global economic uncertainty and a return to traditional safe assets. For the crypto market, year-end portfolio rebalancing and regulatory changes could be key factors influencing future trends.

Whether the gold price breakout signals a comprehensive return of traditional safe assets or is merely a short-term market fluctuation remains to be seen. Similarly, whether the crypto market can regain upward momentum depends on shifts in capital flows and market sentiment.