Gold prices soared to a record $4,400 per ounce on December 22, 2025, as Bitcoin struggled, trading at $88,890. This marks a 29.5% drop from Bitcoin's peak and a nearly 5% decline year-to-date. Silver and platinum also saw significant gains, highlighting a shift in investor sentiment towards traditional safe-haven assets. Analysts, including Bloomberg's Mike McGlone, have noted Bitcoin's underperformance, with the Bitcoin-to-gold ratio nearing 20 times. This trend suggests potential further declines in risk assets as investors pivot towards more stable investments amid market volatility.