Bitcoin and Ethereum are poised to struggle in the worst first quarter of years, unless they can stop large gatherings in the coming days.
According to Coinglass data, Ether (ETH) fell 37.98% so far in the first quarter of 2025, the worst quarter since 46.61% fell since 2018. Meanwhile, Bitcoin (BTC) has fallen 6.49% since the quarter and is expected to close on March 31st. It shows its worst performance since 2020, with a 10.83% decline.
Crypto markets are unlikely to flash greens before the quarter
“A vertical swing to the end of the quarter is unlikely,” Swyftx lead analyst Pav Hundal told Cointelegraph.
Ether averaged 78.23% returns in the first quarter of each year since 2017. Source: Coinglass
Hundal said the crypto market will be “a little blind flight” until mid-April, when the broader market needs to make President Donald Trump’s tariff plans even clearer.
“Economic data shows a decent form of a global economy,” he said.
Some analysts say that before Bitcoin sees the next important rally, it may only take a few weeks.
Crypto commentators told Colin, Crypto said in a March 19th X post that Bitcoin could start its “next major blast-off” around April 30th.
The first quarter was historically the strongest of the ether, with Bitcoin being the second best. Since 2017, Ether has averaged an increase of 78.23% in the first quarter, while Bitcoin has earned an average return of 51.62% since 2013.
At the time of publication, Bitcoin is trading at $87,558, while Ether is trading at $2,059, an increase of 5.08% and 5.88% in the last 24 hours, respectively.
Meanwhile, TradingView data shows that the ETH/BTC ratio (which indicates the relative strength of ether to Bitcoin) is at its lowest point since May 2020, sitting at 0.2348.
The ETH/BTC ratio is sitting at 0.02348 at the time of publication. Source: TradingView
According to data from CoinMarketCap, the rest of the Crypto market has declined 11.65% since January 1, followed by two biggest downtres of cryptocurrency, and has declined 11.65% since January 1.
Related: Bitcoin Prices 75% Possibility to hit a new high in 2025 – Analysts
Many in the Crypto industry were very optimistic in the first quarter of 2025 after Bitcoin tapped $100,000 for the first time since Trump’s November election victory, and after a strong end in 2024, the unexpected macroeconomic conditions largely condemned the crypto market recession in the beginning of February.
After Bitcoin fell below $100,000 in February, wider market sentiment has become horrifying amid Trump’s tariffs and uncertainty over the future of federal interest rates in the US. Sentiment Tracking The Crypto Fear & Greed Index had read a “neutral” score of 47 as of March 26th.
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This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
