Research Study
Q4 2024 Signals Report
A quarterly breakdown of key market metrics that could be affecting price and investor sentiment
by Fidelity Digital Assets
January 29, 2025 • 60 min read
2024 was a significant year for digital assets. The industry saw record-breaking highs, the launch of spot bitcoin and ether exchange-traded products, and new waves of institutional adoption. But, with Q4 officially in the rearview and the new year underway, what may come next for Bitcoin and Ethereum?
Our Research team examines bitcoin and ether’s performance in our Q4 2024 Signals Report, analyzing the potential drivers behind both assets’ year-to-date gains and what key metrics may indicate about future market movements. Takeaways highlighted in the report include:
- Bitcoin and ether closed 2024 with healthy gains of 113% and 42% respectively, outperforming the S&P 500 at 25% gains.
- December 31 marked bitcoin’s 170th day in the “Acceleration” phase—this phase has previously taken 250 to 300 days to reach a peak, suggesting bitcoin may have more room to run.
- A recent decrease in Ethereum’s active validators may have positive implications for ether holders.
Access the full report now for a closer look into bitcoin and ether and see why our analysis suggests that the short- and long-term conditions appear positive for both assets.
The information herein was prepared by Fidelity Digital Asset Services, LLC (“FDAS LLC”), Fidelity Digital Assets, Ltd (“FDA LTD”), and Fidelity Digital Assets Ireland Limited ("FDA Ireland"). It is for informational purposes only and is not intended to constitute a recommendation, investment advice of any kind, or an offer to buy or sell any asset. Perform your own research and consult a qualified advisor to see if digital assets are an appropriate investment option.
Digital assets are speculative and highly volatile, can become illiquid at any time, and are for investors with a high-risk tolerance. Investors in digital assets could lose the entire value of their investment.
Custody and trading of digital assets are provided by Fidelity Digital Asset Services, LLC, which is chartered as a limited purpose trust company by the New York State Department of Financial Services to engage in virtual currency business (NMLS ID 1773897) ("FDAS LLC"). FDA LTD and FDA Ireland rely on FDAS LLC for these services. FDA LTD is registered with the Financial Conduct Authority under the U.K.’s Money Laundering Regulations. The Financial Ombudsman Service and the Financial Services Compensation Scheme do not apply to the cryptoasset activities carried on by FDA LTD. FDA Ireland is incorporated in Ireland as a private limited company and provides certain virtual asset services described in the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 to 2021. FDA Ireland is registered with the Central Bank of Ireland for anti-money laundering and countering the financing of terrorism (AML/CFT) purposes only (C526991).
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