Bitcoin (BTC) has outperformed the S&P 500 and gold since Election Day despite falling nearly 12% in the first quarter to $82,683.16. Gold recently hit a new all-time high of over $3100, up by nearly 14% since Nov. 5, while the S&P 500 is down by roughly 3% in the same period. BTC has soared by 22% since Election Day. The Bitfinex Alpha report noted that Bitcoin’s price slid in the first quarter due to a “sell-the-news” dynamic, as traders potentially reassessed the lack of tangible regulatory progress after President Donald Trump took office.
Tight liquidity conditions continue to shape market conditions for Bitcoin, remaining constrained across spot and derivatives markets, and volatility has compressed since the early-year spike. Inflows into US-listed spot Bitcoin ETFs are being tracked for directional cues, though flows have slowed since the initial launch. With traders closely watching for shifts in Federal Reserve policy, sustained price movement beyond the current range of $78,000 and $88,000 is unlikely in the near term without a significant catalyst. Although signs of capitulation have subsided, market participants remain cautious. BTC’s dominance has increased to over 61% amidst a broader crypto market downturn, reflecting a rotation out of altcoins and into Bitcoin as investors reduce risk exposure.
Altcoins continue to struggle in the current market landscape, with Ethereum (ETH) closing its second-worst first quarter in history, down over 45% and priced at $1,832.80 as of press time. Solana (SOL) and other major assets like BNB and Cardano (ADA) are also down in the first quarter. The exception is XRP, which was up by 1% and trading at $2.10. Despite the decline, Bitcoin’s relative strength has grown, and its dominance in the total crypto market capitalization has increased to over 61%.
At the time of press on Mar. 31, 2025, Bitcoin is ranked #1 by market cap with a market capitalization of $1.64 trillion and a 24-hour trading volume of $30.07 billion. The total crypto market is valued at $2.67 trillion with a 24-hour volume of $82.94 billion, while Bitcoin dominance is currently at 61.38%. Investors continue to closely monitor market conditions and regulatory developments to anticipate potential shifts in Bitcoin’s price and trading dynamics. As the market remains cautious, the future trajectory of Bitcoin and altcoins will depend on various factors such as Federal Reserve policy, inflation data, and interest rate guidance.
