Markets tumble on Christmas Eve despite GDP surge

Economic Indicators - The U.S. GDP grew at an annual rate of 4.3% in Q3, exceeding expectations [1] - The consumer price index (CPI) rose at a lower-than-expected rate of 2.7% in November [1] - The Federal Reserve recently lowered interest rates to a range of 3.5% to 3.75% [1] Market Performance - Gold reached an all-time high price of $4,441.92 [1] - The S&P 500 index closed at a record high of 6,909.79 on December 23 [1] - The total crypto market cap has remained nearly flat at $3 trillion over the last seven days [4] Cryptocurrency Trends - Bitcoin (BTC) has decreased by 0.5% over the past week, trading at $87,142.71 [4] - Bitcoin is currently 35% lower than its record high, despite other markets like Nasdaq and gold reaching peaks [4] - Other leading cryptocurrencies are also underperforming, similar to Bitcoin [5] Market Reactions - Jim Cramer noted that significant market movements negatively impact tech stocks, including cryptocurrencies [2] - The crypto market has not recovered from the October 10 crash, which resulted in a $19 billion loss in market value due to President Trump's remarks [3]