Bitcoin Faces Significant Losses with Worst Q1 Since 2014
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For the first quarter of 2026, Bitcoin encountered a notable downturn, reflecting a -23.21% return. This disappointing result is the third-most severe first-quarter performance the cryptocurrency has seen since 2013, as per insights from CoinGlass.
While Bitcoin struggled, Ethereum also experienced a sharp decline of -32.17%, marking its own third-worst Q1 outcome ever recorded. Both cryptocurrencies recorded their losses following a notable market peak in October 2025.
Historically, Bitcoin’s average first-quarter return stands at 45.90%, while the median leans towards a narrower -2.26%. The current figures indicate a significant deviation, with only two earlier Q1s yielding worse results: Q1 of 2014, which saw a drop of -37.42%, and Q1 of 2018, with an even sharper -49.7% plunge.
Ethereumβs performance in Q1 2026 is especially striking against its historical average, which is remarkably high at 66.45%. This drastic drop contrasts sharply with previous highs and indicates a volatile environment for both major cryptocurrencies.
Bitcoin’s track record since 2013 presents a mixed bag of results, with some years showcasing remarkable gains. For instance, the first quarters of 2013, 2021, 2023, and 2024 recorded impressive increases of +539.96%, +103.17%, +71.77%, and +68.68%, respectively. In stark contrast, several years also saw significant losses, notably in 2014, 2015, 2018, and 2022.
Examining the patterns, the average Q1 return can be heavily influenced by exceptional outliers such as 2013 and 2021βs performances. The median Q1 return of -2.26% suggests that first quarters more commonly yield slight losses rather than gains.
The previous year, 2025, showcased alarming volatility, as Bitcoin registered a decline of -11.82% during Q1, followed by a -23.07% loss in Q4. This pattern of back-to-back quarterly reductions has not been observed since 2022 when Bitcoin faced continuous losses across all four quarters.
The recent downturn can be traced back to the major liquidation event in October 2025, which led to a staggering $19 billion in liquidations. Bitcoin fell from an all-time high of $126,080 to around $66,000, translating to a 48% drop from its peak. This significant decline has raised concerns about the ongoing market stability and the performance expectations for the remainder of 2026.

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