Source: Cointelegraph Original: "{title}"
Bitcoin (BTC) and Ethereum (ETH) are set to experience their worst first-quarter performance in years if they do not achieve a significant rebound in the coming days.
According to CoinGlass data, Ethereum has dropped 37.98% in the first quarter of 2025 so far, marking its worst first-quarter decline since 2018, when Ethereum fell by 46.61%. Meanwhile, Bitcoin has decreased by 6.49% this quarter, and is expected to end on March 31, which would be its worst first-quarter performance since 2020, when Bitcoin dropped by 10.83%.
Pav Hundal, Chief Analyst at Swyftx, stated at the end of a Cointelegraph interview, "The likelihood of a significant rebound before the end of the quarter seems low."
Since 2017, Ethereum's average return in the first quarter has been 78.23%. Source: CoinGlass
Hundal mentioned that the crypto market will be "slightly blind" until mid-April, when the broader market should have a clearer understanding of U.S. President Donald Trump's tariff plans.
He said, "Economic data shows that the global economy is in good shape."
Some analysts believe that Bitcoin may see the next significant rebound in a few weeks.
Crypto commentator Colin Talks Crypto stated in a post on X on March 19 that Bitcoin could start its "next major surge" around April 30. Meanwhile, Swan Bitcoin CEO Cory Klippsten mentioned earlier this month that the probability of Bitcoin reaching a new all-time high before the end of June is over 50%.
The first quarter has historically been Ethereum's strongest performance and Bitcoin's second strongest quarter. Since 2017, Ethereum's average increase in the first quarter has been 78.23%, while Bitcoin's average return since 2013 has been 51.62%.
At the time of publication, Bitcoin was trading at $87,558, and Ethereum was trading at $2,059, having increased by 5.08% and 5.88% respectively in the past 24 hours.
Meanwhile, the ETH/BTC ratio—showing Ethereum's strength relative to Bitcoin—has reached its lowest point since May 2020, currently at 0.2348, according to TradingView data.
As of the publication of this article, the ETH/BTC ratio is 0.02348. Source: TradingView
With the decline of the two largest cryptocurrencies, Bitcoin and Ethereum, the entire crypto market has followed this trend. According to CoinMarketCap data, the total market capitalization of the crypto market has decreased by 11.65% since January 1, 2025, sitting at $2.88 trillion at the time of publication.
Despite many in the crypto industry being optimistic about the first quarter of 2025 after a strong end to 2024, especially after Bitcoin first broke the $100,000 mark (following Trump's election victory in November), unexpected macroeconomic conditions were the main reason for the crypto market's decline in early February.
In February, Bitcoin fell below $100,000, coupled with the tariff policies implemented by Trump and the high uncertainty regarding future U.S. federal interest rates, leading to a shift in market sentiment to panic. As of March 26, the sentiment tracking indicator—the Crypto Fear & Greed Index—showed a "neutral" score of 47.
Related: Analyst: The probability of Bitcoin reaching a new high in 2025 is 75%
This article does not contain investment opinions or advice. Every investment and trading action involves risks, and readers should conduct their own research before making decisions.
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