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Asia Market Opening: Bitcoin Declines While Stocks Respond Positively to US Economic Growth, Gold Reaches Record High
Bitcoin experienced a slight decline during early Asian trading on Wednesday as stock markets opened positively, buoyed by momentum from Wall Street following data indicating that the US economy expanded at its quickest rate in two years.
The S&P 500 reached a record closing on Tuesday after an upward adjustment to third-quarter GDP revealed an annualized growth of 4.3%, a report that also led to an increase in bond yields and sustained interest in growth stocks.
In the cryptocurrency sector, analysts from Bitfinex noted that Bitcoin has made a significant rebound from the low $80,000 support level identified previously.
“Nevertheless, the recovery now encounters a considerable obstacle due to a substantial overhead supply cluster amassed by major buyers between $94,000 and $120,000,” they remarked.
“This accumulation of supply has resulted in a notably top-heavy market structure, where attempts at recovery are increasingly hindered by selling pressure. This situation is reminiscent of early 2022, when rebounds during the initial phases of a bearish trend consistently struggled to gain momentum.”
MSCI’s regional index for Asia Pacific stocks continued its upward trend into a fourth consecutive session, rising approximately 0.2% at the start. Japan and South Korea saw gains, while Australian stocks experienced a slight decline in a shortened trading session.
Market snapshot
- Bitcoin: $87,341, down 1.5%
- Ether: $2,943, down 2.3%
- XRP: $1.86, down 2.1%
- Total crypto market cap: $3.03 trillion, down 1%
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Geopolitics And Rate Bets Propel Gold To New Highs
Gold took center stage, soaring above $4,500 an ounce for the first time as demand for safe-haven assets increased amid geopolitical tensions, with traders factoring in the likelihood of lower US interest rates next year.
Gold sets a new ATH above $4,500.
Now trading at $4,520. pic.twitter.com/MbtbFsf7Bo— CoinGecko (@coingecko) December 24, 2025
The surge in gold prices coincides with heightened pressure from Washington on Venezuelan oil exports, as President Donald Trump’s blockade keeps shipowners vigilant and contributes to broader risk hedging across markets.
Fed Leadership Uncertainty Keeps Markets On Edge
On the policy side, Trump has kept markets uncertain regarding the next Federal Reserve chair, reiterating his desire for a rate cutter to be appointed as he approaches an announcement.
In Asia, investors monitored developments from Beijing and New Delhi, where the Reserve Bank of India implemented measures to alleviate tight conditions through new liquidity initiatives, including bond purchases and a dollar-rupee swap.
Trade remained a backdrop factor, following the Trump administration’s announcement to postpone new tariffs on Chinese semiconductor imports until mid-2027, a decision that indicated a preference for leverage and time rather than immediate escalation.
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