Crypto Lags Traditional Assets as Gold and Silver Surge in 2025

• Bitcoin posted a -6% return in 2025 while gold gained 65%, and silver rose 130% YTD.
• Ethereum fell 12% for the year despite a Q2 recovery surge of 51.87% from Q1 levels.
• Traditional equities delivered positive returns, with the Nasdaq up 20% and the S&P 500 up 16%.

Cryptocurrency posted negative returns in 2025 across major tokens, trailing traditional asset classes in year-to-date performance. Bitcoin declined approximately 6% while Ethereum fell 12% for the year. Altcoins posted losses averaging 42% across the sector.

Gold led asset class performance with 65% gains driven by central bank accumulation, geopolitical factors, and currency concerns. Silver delivered 130% returns, while copper advanced 35% year-to-date. The broader commodities complex generated 17% gains for the year.

Equities and Fixed Income Deliver Positive Returns

Traditional equity markets posted solid gains across major indices. The Nasdaq 100 delivered 20.63% returns, led by the technology sector’s performance. The S&P 500 is up 15.24% year to date, while the Russell 2000 is up 13%.

Fixed-income markets also outpaced cryptocurrency performance. The Bloomberg Aggregate Bond Index generated 6.13% returns through the third quarter, recovering from weak 2024 results. 

Bitcoin’s negative performance positioned it below bonds, equities, and precious metals for the year. Ethereum experienced volatile quarterly swings, declining 45.41% in the first quarter before recovering with a 36.48% surge in the second quarter and 66.5% in the third quarter. Despite the recovery, the token remains down 26.84% in the fourth quarter.

Few Commodity Segments Underperformed Alongside Crypto

Specific commodity segments underperformed alongside cryptocurrency. Crude oil declined between 13% and 14% for the year. Liquefied natural gas retreated 25%, while thermal coal slid 11%. However, these energy losses were offset by strong precious metals performance that lifted the broader commodities complex.

The cryptocurrency sector faced headwinds throughout 2025, including a decline in retail participation measured by active addresses, and macroeconomic conditions that favored traditional safe-haven assets. Exchange inflows increased periodically as holders repositioned or reduced exposure during volatility periods.

Year-to-date data show that traditional asset classes posted positive returns, while cryptocurrencies experienced drawdowns across major tokens. The performance gap between digital assets and commodities, equities, or fixed income widened as the year progressed. Precious metals in particular attracted institutional flows that historically might have included cryptocurrency allocations.

Related: Why’s the Crypto Market Up Today as Bitcoin Attempts $90K Once More