Bitcoin has fallen 22.3% since the start of the year to around $68,000, putting it on course for its worst first quarter performance since the 2018 bear market.
The asset began the year near $87,700 and has shed roughly $20,000, with historical data from CoinGlass showing Q1 losses of nearly 50% in 2018 and double-digit declines in 2020 and 2025.
“The first quarter of the year is known for its volatile nature,”
Said analyst Daan Trades Crypto, adding that what happens in Q1 does not generally dictate the remainder of the year.
Bitcoin has now entered its fifth consecutive week of losses and is on track for its first-ever back-to-back red months in January and February, having dropped 10.2% in January and 13.4% so far in February.
To avoid a negative February close, Bitcoin would need to reclaim the $80,000 level, though current price action suggests continued short-term pressure.
Nick Ruck, director at LVRG Research, described the downturn as “a regular correctional phase rather than a structural breakdown in the asset’s long-term trajectory.”
Ruck added that while macroeconomic headwinds may weigh in the near term, historical resilience, institutional adoption and halving cycle dynamics could support stronger recoveries later in the year.
At the time of reporting, Bitcoin price was $68,627.34.