Ether is on track to have its worst Q1 since 2018. This bearish move has sent XEN to its lowest ETH/BTC ratio since May 2020. The overall cryptocurrency market was in a downtrend since the beginning of the year. Even with this bear market, many cryptocurrency observers are bullish on Bitcoin’s prospects for a big rebound later this fall or into the winter.
The ETH/BTC ratio has crashed to 0.2348, as per TradingView data. As of this writing, ether is down 37.98% over Q1 of 2025. This drop represents Ether’s largest Q1 decrease since 2018, in which it declined by 46.61%.
The total market cap of the crypto space is down 11.65% since the first of the year and is now $2.88 trillion. As of March 26, the Crypto Fear & Greed Index had notched a “Neutral” score of 47. This low score exemplifies the high level of uncertainty investors are feeling in the current market.
Sequentially, the first quarter has been the most positive for Ether and Bitcoin historically. Since 2017, Ether has averaged a return of 78.23% during Q1. Since its inception in 2013, Bitcoin has provided a stunning average annualized return of 51.62%. That performance has the top cryptocurrency on track for its second-best quarter ever.
At the time of writing, Bitcoin was trading at $87,558 and Ether traded at $2,059, up 5.88% in the last 24 hours. Even with Ether’s impressive run up, the ETH/BTC ratio has a long way to recover still at just 0.02348.
A "vertical swing up into the end of the quarter looks unlikely." - Pav Hundal
Looking ahead, some analysts are predicting it could spark a new Bitcoin boom. And popular crypto commentator Colin Talks Crypto thinks Bitcoin will start its “next major blast-off” right around April 30. And Swan Bitcoin CEO Cory Klippsten couldn’t be more optimistic about Bitcoin’s future. He thinks there’s better than even odds that it will take out all-time highs before the end of June.
