PANews reported on April 1st that, according to The Block, Bitcoin fell 23.8% in the first quarter of 2026, marking its worst quarterly performance since the first quarter of 2018, when it fell 50%. Bitcoin has now fallen for two consecutive quarters, with a cumulative drop of approximately 41.6% over the past six months. Andri Fauzan Adziima, Head of Research at Bitrue, stated that the first-quarter decline was primarily driven by outflows from Bitcoin ETFs, inflation stickiness, the Federal Reserve's cautious stance, and risk aversion fueled by geopolitical tensions in the Middle East. US spot Bitcoin ETFs saw net outflows of $496.5 million in the first quarter, with $1.8 billion flowing out in the first two months, partially offset by an inflow of $1.32 billion in March.

Min Jung, a research assistant at Presto Research, pointed out that the long-term trend of institutional participation remains unchanged, and the market decline is more cyclical than structural. Nick Ruck, director of LVRG Research, stated that a trend reversal in the second quarter would require renewed inflows of ETF funds, clear progress in US crypto-friendly regulation, and a shift towards looser monetary policy. Bitcoin is currently trading at approximately $69,100.