The cryptocurrency market in March 2025 suffered due to the tariff war, falling by 4.31%. Bitcoin remained stable, however, ETFs in the US ended the month with losses.
Monthly Bitcoin ETF Flow
Out of 21 active market days in March, 11 spot Bitcoin ETFs recorded a total flow of ~$3 billion. During this period, ETFs showed a positive flow for 10 days, while negative flow was recorded on 11 days. The total inflow amounted to $1,079.43 million, whilst the outflow accounted for $1,847.34 million. The month started on a bearish note with a 7-day outflow until March 12th, when a positive flow of $13.3 million was recorded. Subsequently, a 10-day positive streak brought in $1.07 billion.
Bitcoin Quarterly Performance Causes Chaos in the Market
The quarterly performance report for Bitcoin, released on March 28th, showed the cryptocurrency experienced its worst first quarter since 2018. Back then, Bitcoin had crashed by ~50%, impacting the ETFs with an outflow of $93.2 million. Bitcoin's YTD for the first quarter of 2025 is -11.86% and is trading at $83,725, which is worse than the first quarter of 2020's drop of -10.87%.
Impact of Tariff Policy on the Cryptocurrency Market
President Trump's announcement of U.S. reciprocal tariffs, set to take effect on April 2nd, 2025, delivered a significant blow to the market.
The first quarter of 2025 highlighted instability in the cryptocurrency market, particularly for Bitcoin and related ETFs, amid U.S. tariff policy.
