Bitcoin and Ethereum ended the first quarter of 2025 in the red, facing macroeconomic uncertainty and resistance from whales at key levels.
Q1 Performance of BTC and ETH
According to CoinGlass data, Ethereum, trading at $1,852.25, dropped 37.98% in Q1 2025, marking its worst since 2018. Bitcoin also fell 6.49% over the quarter, its weakest since 2020.
Whale Resistance Near $90,000
Analytics platform Alphractal reported whales have been shorting Bitcoin around $88,000. This resistance built up and large $1 million+ trades on multiple exchanges have typically preceded a price drop. CryptoQuant noted BTC needs to close above $90,000 to maintain bullish momentum.
Accumulation and Future Outlook
Despite bearish signs, Bitcoin accumulation continues. IntoTheBlock data showed $220 million in BTC net outflows from exchanges over the last 24 hours. Analysts predict price recovery later, but markets remain uncertain until mid-April due to macro data.
Despite poor Q1 performance and whale resistance, some analysts remain optimistic about a market recovery by midyear.
