Analysis: Bitcoin Down 22.3% Year-to-Date, Poised for Worst Q1 Performance Since 2018

Odaily News According to data, Bitcoin has fallen 22.3% since the beginning of the year and is poised to record its worst first-quarter performance since 2018, when it fell 49.7% in Q1. Bitcoin started the year trading around $87,700 and has since dropped approximately $20,000 to around $68,000. Furthermore, Bitcoin may record consecutive monthly declines in January and February for the first time.

Analyst Daan Trades Crypto posted on platform X, stating that the first quarter is known for its volatility, and based on historical price movements, what happens in Q1 typically does not carry over into subsequent periods.

Nick Ruck, Director of LVRG Research, said that the continued decline in Bitcoin's price reflects a regular correction phase rather than a structural breakdown in the asset's long-term trajectory. Historical patterns show that Bitcoin's resilience often leads to a strong recovery in the following months.

ETH has fallen 34.3% so far this quarter. Bitcoin is down 2.3% in the past 24 hours, trading at $68,670.