Bitcoin and Ethereum Set to End Q1 in the Red; No Major Rally Expected Before March 31

Bitcoin and Ethereum Face Worst Q1 in Years, Major Rally Unlikely Before March 31

As the end of the first quarter of 2025 approaches, both Bitcoin (BTC) and Ethereum (ETH) are poised to record their worst Q1 performances in years, with little chance of a significant recovery before March 31. Bitcoin has experienced a 6.49% decline in the first quarter, marking its worst Q1 performance since 2020. Ethereum, on the other hand, has seen an even more dramatic drop of 37.98%, its worst Q1 decline since 2018, according to CoinGlass data.

The outlook for a late-quarter rally remains bleak, with Swyftx lead analyst Pav Hundal telling Cointelegraph that a “vertical swing up” in the remaining days of Q1 seems unlikely. “The crypto market will be flying a little blind until mid-April,” Hundal explained, referring to the uncertainty surrounding U.S. President Donald Trump’s tariff plans, which are expected to provide more clarity on the market's future.

Ether and Bitcoin’s Q1 Struggles

Ethereum’s Q1 decline of 37.98% is particularly concerning, as this has historically been one of Ether's strongest quarters. In fact, since 2017, Ether has averaged a 78.23% gain during the first quarter. Bitcoin, which has historically seen strong Q1 performances, is also facing a rough quarter. Its 6.49% decline is its worst Q1 performance since 2020, when it experienced a 10.83% drop.

The underperformance of both Bitcoin and Ethereum has had a ripple effect on the broader crypto market, with the total market capitalization of cryptocurrencies declining by 11.65% since the start of the year, currently sitting at $2.88 trillion, according to CoinMarketCap.

At the time of publication, Bitcoin is trading at $87,558, while Ethereum is at $2,059, showing a slight 24-hour increase of 5.08% and 5.88%, respectively. Check current crypto prices here.

Analysts Eye April for Potential Recovery

While the final days of Q1 show little potential for recovery, some analysts remain optimistic about the coming months. Colin Talks Crypto, a crypto commentator, suggested in a March 19 X post that Bitcoin may experience its “next major blast-off” around April 30. Similarly, Swan Bitcoin CEO Cory Klippsten predicted earlier this month that there is a 50% chance Bitcoin will reach new all-time highs before June.

The ETH/BTC ratio has also caught the attention of investors, as it currently stands at its lowest level since May 2020. The ratio, which shows Ether’s relative strength to Bitcoin, is at 0.2348, indicating that Ether is currently underperforming compared to Bitcoin. Explore the ETH/BTC ratio here.

Broader Crypto Market Decline

The struggles of Bitcoin and Ethereum have weighed heavily on the broader crypto market. As mentioned, the entire market capitalization has fallen by 11.65% this year, impacting most altcoins and tokens. Despite these declines, many in the industry remain hopeful for a rebound in the second quarter, particularly as economic data suggests that the global economy is in decent shape.

Overall, while Bitcoin and Ethereum have suffered in the first quarter of 2025, there is still a chance for a market turnaround in the coming months. Analysts are looking toward April and beyond for a clearer picture of market conditions and potential rallies.

For real-time updates on Bitcoin, Ethereum, and other cryptocurrencies, visit CoinMarketCap here.