Dear reader, prepare yourself for a tale of woe and misfortune in the realm of digital currencies. As the clock struck midnight on the final day of the first quarter of 2025, Bitcoin (BTC) and Ethereum (ETH) found themselves in a rather unenviable position, having suffered their most lamentable quarterly performance in nigh on a decade.
According to the esteemed crypto futures trading platform CoinGlass, the first quarter of 2025 was a veritable abyss for both BTC and ETH, reminiscent of the darkest days of 2018. In fact, the month of March saw the highest losses for these cryptocurrencies since the annus horribilis of 2020.
Bitcoin: From Triumph to Tragedy
Alas, dear reader, the year began with such promise! Bitcoin soared to new heights, reaching an all-time high (ATH) of $109,590, buoyed by the crypto-friendly administration of President Donald Trump. Yet, as quickly as it rose, it fell, shedding nearly all gains made between December and January.
This calamitous correction was spurred on by macroeconomic uncertainty and the President’s inability to enact policies that would have sustained the market’s bullish momentum. By the end of the quarter, BTC had plummeted to $76,700, languishing in a narrow trading range capped at the $89,000 resistance level.
Q1 2025 concluded with an 11.82% decline for BTC, a stark departure from its average 51.28% gain observed since 2013. The last time BTC experienced such a downturn was in 2020, but the true nadir was in 2018, when it tumbled a staggering 49.7%.
March brought with it further heartache, marking the first negative return for BTC in four years, as the asset shed 2.3% of its value. January was the lone bright spot, while February saw a precipitous 17.39% decline.
The analysts at Bitfinex noted that the quarter’s correction was historically significant, featuring a 29% peak-to-trough plunge from the ATH of $109,590 to the March lows of $76,700. A truly Shakespearean fall from grace!
Ethereum: The Tragic Hero
But fear not, dear reader, for the story does not end there. Enter Ethereum, whose performance in the first quarter was even more calamitous than Bitcoin’s. The asset nosedived by a shocking 45.41%, with March alone seeing negative returns of 18.69%. Remarkably, ETH has now endured negative returns for three consecutive months, with February being the bleakest (31.9%).
In contrast to BTC, ETH had only one negative first quarter since 2018 – in 2022, when its returns were -10.75%. Until now, every other quarter since Q1 2018 had been positive, albeit not without its share of drama. This recent downturn can be attributed to ETH’s underperformance during this bull cycle and over the past few months.
And let us not forget the poor, beleaguered altcoins, particularly the meme coins. According to Bitfinex analysts, they fared even worse than BTC and ETH, with many suffering an 80% decline from their ATHs. Truly, a sorry state of affairs!
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2025-04-01 18:26