Bitcoin Plunges 22% in Q1, Will the Nightmare of 2018 Repeat?

▲ Bitcoin market in sharp decline ©

Bitcoin (BTC), which plunged 22.3% at the start of the year, is on track to post its worst first-quarter performance in eight years, sending a chill across the broader cryptocurrency market including XRP (Ripple). However, experts view the downturn as a simple correction from a long-term perspective.

According to investment-focused outlet FXStreet on Feb. 16 (local time), Bitcoin began the year trading at around $87,700 but has since fallen by roughly $20,000, currently hovering near a low of $68,000. Data from CoinGlass warns that if the current trend continues, this could mark the most devastating first quarter since the 2018 bear market, when prices plunged about 50%.

Historically, Bitcoin has recorded declines in seven out of the past 13 first quarters. Most recently, it fell 11.8% in 2025 and 10.8% in 2020, while the steepest first-quarter drop on record occurred in 2018, when it tumbled 49.7% in just three months. Analyst Daan Trades Crypto noted that the first quarter is typically a volatile period, adding that historical price trends suggest a weak first quarter does not necessarily translate into a full-year decline.

Notably, Bitcoin is at risk of closing both January and February in the red for the first time in its history. After posting a 10.2% loss in January, Bitcoin is down another 13.4% so far this month and must urgently reclaim the $80,000 level to finish February higher. Ethereum (ETH), which has fallen alongside Bitcoin, is also enduring its third-worst first quarter on record with a 34.3% loss to date.

Despite the deepening downturn, market experts remain optimistic. Nick Ruck, director at LVRG Research, assessed that the current price decline amid persistent global economic uncertainty represents a typical correction rather than a structural collapse that would undermine the asset’s long-term trajectory. He added that while macroeconomic headwinds may intensify short-term pressure, Bitcoin’s inherent resilience—bolstered by growing institutional adoption and the dynamics of the halving cycle—is likely to drive a strong rebound in the coming months.

According to CoinGecko data, Bitcoin has entered its fifth consecutive week of losses and is currently trading at $68,670, down 2.3% over the past 24 hours, as it continues a difficult process of bottom consolidation.

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