Bitcoin’s poor performance has impacted the entire market, with 90% of cryptocurrencies in losses in the first quarter of 2026.
Bitcoin ended the first quarter down 23.8%, the “worst performance” for a first quarter since 2018, when bitcoin fell 50%. Questioned by the specialized media The Block, Andri Fauzan Adziima, head of research at Bitrue, believes that this result is “mainly” explained by negative flows on spot bitcoin ETFs, strong inflation and a “cautious” Federal Reserve (Fed), encouraging investors to get rid of risky assets, including cryptos.
At 10:00 a.m. French time, bitcoin was trading at $66,800, losing 5% over a week. The queen of cryptos has lost 47% of its value since its peak at $126,000 in October 2025. Its poor performance has had an impact on the rest of the crypto market: 90% of cryptocurrencies are in loss in the first quarter as revealed by Grayscale.
Can this trend be reversed? Yes, according to Nick Ruck, research director at LVRG, provided that certain conditions are met: “new flows of entries into ETFs, clearer progress on American regulations favorable to cryptocurrencies and a relaxation of monetary conditions”, explains the latter.
As a reminder, the crypto ecosystem is awaiting the validation of a major crypto regulation in the United States, called the Clarity Act. The text is still under discussion in the Senate due to differences between the crypto sector and the banking sector on the case of the returns allowed by stablecoins, which, according to the banks, will create too much competition in the future.
Range between 55,000 and 90,000 dollars
Despite this observation, Lacie Zhang, research analyst at Bitget Wallet, believes that the price of the queen of cryptos could vary in April depending on the evolution of “geopolitical tensions” with the closure of the Strait of Hormuz and the surge in energy prices.
“A prolonged conflict, leading to a rise in oil prices, could accentuate the contraction in liquidity and push bitcoin towards $55,000. Conversely, a rapid de-escalation could revive the appetite for risk and encourage progression above $90,000,” estimates the analyst.
