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U.S. Stocks Give Up Post-Trump Election Advance While Bitcoin Clings to Gain
Since President Trump won the U.S. election in November, the S&P 500 has dropped 2%, while bitcoin has gained 20%.
Updated Mar 7, 2025, 9:08 a.m. Published Mar 7, 2025, 8:46 a.m.
What to know:
- Both the Nasdaq 100 and S&P 500 have erased all gains since Donald Trump's November election victory.
- While giving up a substantial portion of its advance, bitcoin is still about 20% higher since Trump won the presidency.
The stock market tariff tantrum of the past few weeks has seen the Nasdaq 100 and S&P 500 give up all their gains since the early November election victory of Donald Trump even as bitcoin (BTC) remains in positive territory.
Both equity gauges are now more than 2% lower, while bitcoin is up over 20% in the same time frame.
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Market leader Nvidia (NVDA), whose chips are in demand for uses in AI, for instance, is lower by more than 20% since Trump's triumph. On the flip side, Meta Platforms (META) is the stand out stock in the so-called magnificent seven technology companies having gained about 10%.
While bitcoin buyer Strategy (MSTR) is down over 50% from its all-time high in November, it remains up 20% since the election.
Though bitcoin bulls are surely disappointed in the price performance of late — the world's largest cryptocurrency has slumped about 20% from $109,000 the day before Trump was inaugurated on Jan. 20 — the current price of $88,000 is still up roughly 20% from its level just prior to the November election.
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Fidelity's Jurrien Timmer: Expect lame 2026 as four-year bitcoin cycle appears intact
The director of global macro at the asset management giant remains a secular bull on bitcoin, but isn't optimistic about the next year.
What to know:
- A number of notable market analysts of late have dismissed the idea of bitcoin's four-year cycle and the nearly certain bear market that might imply.
- Fidelity's Jurrien Timmer, however, says the action so far this time around lines up about perfectly with past four-year cycles and the current bearish action should last deep into 2026.
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