Despite notching modest gains on Friday, the world’s two largest cryptocurrencies are having historically bad starts to the year. Bitcoin is down almost 24% from Jan. 1 to now around $67,000, and Ethereum has also tanked about 34% to about $2,000. Those are the worst year-to-date performances on record, according to Fortune’s analysis of CoinGecko’s public data, which dates back to mid-2013 for Bitcoin and mid-2014 for Ethereum.
Although cryptocurrencies’ price moves have often tracked the broader equities market, the two asset classes have diverged over the past two months. Since January, the stock market has nudged upward. The S&P 500 is up about 0.4%, and the Dow Jones has risen 2.3%. And even metals, which recorded a sudden drop almost three weeks ago, are also performing well. Gold has rocketed about 17% to start the new year, and silver has jumped about 14%.
