Bitcoin and Ethereum are on track to record their most challenging first quarter in several years unless they manage a significant rally in the coming days.
Ether (ETH) has experienced a decline of 37.98% in the first quarter of 2025, marking its worst Q1 drop since 2018, when it decreased by 46.61%. At the same time, Bitcoin (BTC) has fallen by 6.49% in the current quarter, which concludes on March 31, reflecting its poorest Q1 performance since 2020, when it faced a drop of 10.83%.
Crypto market expected to remain bearish until quarter’s end
The lead analyst at a crypto exchange stated that a “dramatic upswing as the quarter ends seems unlikely.”
Since 2017, Ether has achieved an average return of 78.23% in the first quarter of each year.
The analyst noted that the crypto market will operate “without clear visibility” until mid-April, when greater clarity regarding the U.S. President’s tariff policies is expected.
“Current economic indicators suggest a reasonably stable global economy,” he remarked.
Some experts believe it may only take a few weeks after that for Bitcoin to experience its next significant surge.
A crypto commentator indicated in a March 19 post that Bitcoin might see its “next major surge” around April 30. Additionally, the CEO of a Bitcoin-focused company mentioned earlier this month that there’s over a 50% chance Bitcoin could reach new all-time highs before the end of June.
The first quarter has traditionally been Ether’s strongest and Bitcoin’s second-best. Since 2017, Ether has recorded an average gain of 78.23% during Q1, while Bitcoin has achieved an average return of 51.62% since 2013.
As of the latest update, Bitcoin is priced at $87,558, while Ether is at $2,059, with increases of 5.08% and 5.88% in the past 24 hours, respectively.
Meanwhile, the ETH/BTC ratio—indicating Ether’s comparative strength to Bitcoin—has fallen to its lowest level since May 2020, currently at 0.2348.
At the latest update, the ETH/BTC ratio is recorded at 0.02348.
The broader crypto market has mirrored the downturn of the two leading cryptocurrencies, with the total market capitalization declining by 11.65% since January 1, resting at $2.88 trillion at the latest count.
Related: Analyst predicts a 75% chance for Bitcoin to reach new highs in 2025.
Despite high hopes within the crypto community at the beginning of Q1 2025, following a strong finish to 2024 when Bitcoin first approached $100,000 after the President’s election win, unexpected macroeconomic factors have primarily driven the downturn since early February.
After Bitcoin fell back below the $100,000 mark in February due to tariffs and uncertainty surrounding U.S. interest rates, market sentiment turned increasingly negative. The sentiment-tracking index was at a “Neutral” score of 47 as of March 26.
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This content does not constitute financial advice. Every investment and trading decision carries risks, and readers should conduct their own research before making any choices.