Bitcoin Stumbles Hard: The Worst Q1 In Years Raises Big Questions

Bitcoin ended the first quarter of 2026 at $68,200 after falling 22% over the period, its weakest opening three months since 2018. The slide erased an early push higher that had briefly carried the cryptocurrency close to $95,000 before the market turned lower.

A Sharp Turn After A Strong Start

The quarter did not begin quietly. Bitcoin opened the year at a little past $87,000 and moved higher in the early stretch, showing enough strength to reach nearly $95,000. That momentum did not last. The price later sank to about $60,000 on February 6, marking a fast shift in tone after a strong start to the year.

From there, the market kept swinging. Bitcoin managed a brief rebound to around $70,000 later in February, but the recovery faded. Selling pressure returned as tension in the Middle East spread through risk markets, and Bitcoin slipped again, touching about $63,000 before the quarter ended.

Coinglass data used in the report shows how unusual the quarter was when set against recent history. Bitcoin fell nearly 50% in the first quarter of 2018, then posted smaller swings in the years that followed.

It gained 8% in 2019, lost 10% in 2020, surged over 100% in 2021, slipped 1.40% in 2022, and then rebounded with gains of 70% in 2023 and 65% in 2024. The pattern broke again in 2025 with an 11% decline before this year’s deeper drop.

Geopolitical Stress Kept Traders On Edge

The latest decline was tied in the report to rising unrest in the MidEast. That pressure did not stay confined to one trading session. It lingered through March and helped push Bitcoin into a choppy finish for the quarter, with rapid price changes making it harder for the market to settle.

The report also pointed to fresh selling at the start of the second quarter. After US President Donald Trump signaled a tougher stance and warned of further military action in the weeks ahead, Bitcoin fell 3% in 24 hours to $66,700. Ethereum, BNB, and XRP also traded lower by about 3% to 4% as the broader crypto market softened.

Despite the weak finish to March, the report noted April has often been a better month for Bitcoin. Coinglass data cited in the report shows an average April gain of 11.90% and a median return of 5% over the years, which has kept some traders looking for a rebound even after the rough quarter.

Featured image from Meta, chart from TradingView