Last updated on December 18th, 2025 at 01:55 pm
Quick Breakdown
- S&P 500 nears all-time highs, supported by gains in gold, silver, and top US stocks.
- The US PCE inflation report on December 5 could influence interest rates and market momentum.
- Bitcoin retreats from $94K, most major cryptocurrencies trade lower, with Port3 Network seeing a slight rebound.
US equities are pushing toward record highs, even as major cryptocurrencies show signs of cooling, according to a market report from Bybit. The risk-on sentiment in traditional markets has lifted the S&P 500 to a three-week high, now less than 1% shy of its intraday record of 6928.63 set on October 30. Assets, including silver, gold, and top US stocks such as Apple, Walmart, and Goldman Sachs, have also posted notable gains.
TradFi leads ahead of key inflation data
Momentum in traditional financial markets comes ahead of the US Personal Consumption Expenditures (PCE) report, scheduled for December 5. The PCE is the Federal Reserve’s preferred inflation gauge and could influence future interest rate policy. A lower-than-expected reading may extend the bullish trajectory for stocks, gold, and major currency pairs like EUR/USD, while a higher reading could pressure risk assets and reverse recent gains.
Silver hit new record highs, and gold recorded consecutive daily gains, highlighting strong demand for traditional safe-haven assets. Leading US companies also achieved fresh milestones, reflecting broad-based optimism across equity markets.
Bitcoin and cryptocurrencies face a pullback
In contrast, Bitcoin is retreating from the $94,000 level, approaching its 21-day simple moving average. Most major cryptocurrencies are trading lower, with the CoinDesk 20 index down 0.8%, marking two consecutive days of declines.
An exception in the crypto space, Port3 Network (PORT3/USDT), rebounded over 24 hours from record lows of 0.00278 to a peak of 0.00550. However, it remains far below pre-November 22 levels of 0.037 following a major security incident.
Bitcoin itself surged past $91,000 last week, marking a 14% weekly rebound and signalling renewed market optimism as volatility fears ease. Bybit notes that this rise occurred despite lower liquidity ahead of the US holiday, with traders now eyeing a potential upside target of $95,000.
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