Bitcoin surged past the $100,000 milestone on December 5, reaching a high of $103,000 before experiencing a flash crash the following day, dropping to $92,000. This marked a significant moment for the cryptocurrency market, with Bitcoin ETFs seeing substantial inflows of $557 million and Ethereum ETFs accumulating $880 million over eight sessions. Federal Reserve Chair Jerome Powell commented on Bitcoin, describing it as "digital gold" and stating it is not a competitor to the US dollar. Ethereum also saw notable performance, with its price reaching $3,930 and record inflows of $430 million during the downturn. On December 6, Bitcoin fell to $98,800 (-4%), Ethereum dropped to $3,895 (-2%), and Solana declined to $235 (-1%). The broader cryptocurrency market experienced increased volatility, with $500 million in liquidations reported during Bitcoin's crash.