At yesterday's close, the Nasdaq 100 is closer to its December 31, 2023 closing price than its 2025 high on February 19, 2025.
From a pure technical perspective, the entire 2024 gains are in question based on the fact that over 100% of the gains were in the overnight session.
The last time the Nasdaq 100 gained more than 10% on the year and more than 100% of the gains were in the overnight session was 2007, right before the Great Financial Crisis.