BTC down over 20% this year, facing worst Q1 in 8 years

Bitcoin is on track for its worst first-quarter performance in eight years, since the 2018 bear market, having fallen 22.3% since the beginning of the year, Cointelegraph reported. BTC began the year at approximately $87,700 but is currently trading around the $68,000 level. According to data from CoinGlass, Bitcoin has seen declines in seven of the last 13 first quarters. The first quarter of 2018 was particularly severe, with a 49.7% drop over three months. If the current month ends in a decline, it would mark the first time in history that BTC has recorded consecutive losses in both January and February. The media outlet added that while many experts view the current downturn as a correction driven by macroeconomic uncertainty rather than a structural collapse, they also acknowledge that short-term selling pressure could persist.