Bitcoin ended the first quarter of 2026 at $68,200, plunging 22%-its worst quarterly start since 2018. The cryptocurrency briefly touched $95,000 in early January but collapsed to $60,000 by February 6, then oscillated between $63,000 and $70,000 before closing the quarter.
Geopolitical tensions in the Middle East fueled prolonged selling pressure, spilling over into risk assets. Following President Donald Trump’s warning of escalated military action, Bitcoin dropped 3% to $66,700 in a single day. Ethereum, BNB, and XRP also fell 3% to 4%.
Historically, Bitcoin posted gains in seven of the last eight first quarters. The 2026 decline breaks that streak, following an 11% drop in 2025. Analysts note April has historically delivered an average 11.9% rebound, offering cautious optimism despite the steep Q1 loss.