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Bitcoin: Q1 2025 is the WORST since 2018
By Davide Grammatica
Bitcoin is down 13% since the beginning of 2025, in the midst of an unfavorable economic environment, in which only gold seems to be thriving
Bitcoin's struggles
The macro environment continues to weigh on the performance of BTC, which is down 13% since the beginning of 2025, for the worst Q1 since 2018.
Last week’s (worse than expected) US inflation data triggered the new bearish phase of the first cryptocurrency, which is now also preparing to face the new American trade tariffs, coming on April 2nd.
Precisely for this reason, many traders seem to want to prepare for the worst. And even over longer time frames, there aren’t many optimists: the landscape of risky assets needs to change if BTC is to have any real hope of a rise.
The main variables remain the “macro” ones. New data on US employment is expected this week, but will likely be overshadowed by the introduction of tariffs. However, these still don’t seem to be effectively defined in detail according to Trump.
Gold leaves BTC behind
On April 4th, however, Fed Chairman Jerome Powell will speak on the stage of the Society for Advancing Business Editing and Writing (SABEW) about the country’s economic outlook. Further clues are therefore expected regarding interest rate cuts, which could be the real decisive event for BTC. According to the FedWatch Tool, the next cut could take place in June.
In any case, the medium-term prospects for BTC remain uninspiring, barring any surprises. And not only because of the price movement, which has been suffering since the beginning of the year.
The asset is also heavily burdened by its relationship with gold, a true “safe haven” that is performing better than any other asset. While BTC/USD has fallen 30% from its January peak, gold continues to set ATH week after week.
