Bitcoin and Ethereum lag the S&P 500’s 24% gain, with major altcoins erasing most value amid persistent market downturns.
Bitcoin (BTC) and Ethereum (ETH) have fallen 40% over the past 12 months, starkly underperforming the S&P 500’s 24% gain. Altcoins, including XRP and Solana, have fared worse, with many investors facing near-total losses.
The downturn accelerated after a flash crash in October, with most major cryptocurrencies failing to recover. Despite a decade of growth, the sector’s top revenue-generating applications remain speculative trading platforms, raising questions about long-term viability.
Equities continue to outpace crypto in returns, challenging the narrative of digital assets as a high-growth alternative. Market sentiment remains cautious as macroeconomic factors weigh on risk assets.