While Bitcoin (BTC) and altcoins have made nice gains in the rally initiated by Donald Trump, this bullish trend has been in a downtrend since February.
As Bitcoin and Ethereum (ETH) fall to levels not seen in months, one analyst says BTC and ETH are set to close out their worst first quarter in years if they fail to make a major rally in the next few days.
According to Coinglass data, Bitcoin is down 6.49% so far in the first quarter ending March 31, which would be its worst Q1 performance since its 10.83% drop in 2020.
Ethereum, on the other hand, is down 37.98% so far in the first quarter of 2025, making it the worst Q1 drop since 2018 when it fell 46.61%.
At this point, Swyftx chief analyst Pav Hundal said that a strong rally in Bitcoin and Ethereum in the first quarter is unlikely.
“A vertical rally in Bitcoin and Ethereum is unlikely until the end of the first quarter.”
At this point, the analyst also noted that he expects the Bitcoin and cryptocurrency market to remain stagnant until mid-April, when more clarity emerges about US President Donald Trump’s tariff plans.
*This is not investment advice.
