Bitcoin Experiences Worst Q1 Performance Since 2020 as March Ends
As March approaches its end, the cryptocurrency market shows disappointing performance for Q1. Key points include:
- Bitcoin (BTC) has declined 10%, its worst Q1 since 2020.
- Ethereum (ETH) reports its weakest first quarter ever.
- March volatility is expected due to negative liquidity and position management, which may lead to sharp price movements.
- The Federal Reserve's dovish tone and a weakening dollar could support a stronger Q2 outlook despite current weaknesses.
- Market reactions to President Trump's lack of concrete crypto policy updates have been bearish.
- Digital assets are facing challenges in maintaining upward momentum, particularly altcoins.
Upcoming Events
- March 21: SEC Crypto Task Force roundtable on security definitions.
- March 24: Bitcoin miner CleanSpark joins S&P SmallCap 600 index.
- March 26: Ethereum’s Hoodi testnet activates Pascal hard fork network upgrade.
Market Movements
- BTC down 0.73% at $83,935.26.
- ETH down 1.19% at $1,960.00.
- BTC futures open interest decreased to 628,000 BTC.
- ETH futures remain at record highs above 10 million ETH.
Token Stats
- BTC Dominance: 61.52.
- Ethereum to Bitcoin ratio: 0.02348.
- CME Futures Open Interest: 150,645 BTC.
Crypto Equities Performance
- Coinbase Global (COIN) closed at $190.38.
- Galaxy Digital Holdings (GLXY) closed at C$18.15.
- MARA Holdings (MARA) closed at $12.50.
Overall, cautious sentiment persists as traders await further developments in both macroeconomic conditions and regulatory clarity.