Heading into 2025, crypto appeared to be among the asset classes with momentum. After bitcoin more than doubled in 2024, most investors viewed an industry-friendly incoming administration as a prime reason to be bullish on a range of crypto assets. That hasn’t been the case thus far this year. Bitcoin—the world’s first and largest cryptocurrency by market cap—climbed above $100,000 in mid-December for the first time ever, but is now down roughly 9% year to date, as investors have generally sold riskier investments across the market. A crypto trend to watch is whether bitcoin continues to trend alongside stocks, as it has for most of this year, given that cryptocurrencies are seen by some investors as a vehicle for diversification with traditional investments.
Source: Fidelity.com, as of April 16, 2025.