Crypto market cap fell more than 18% in Q1, wiping out $633.5 billion after Trump’s inauguration top

출처 Fxstreet
  • CoinGecko Q1 Crypto Industry Report highlights that the total crypto capitalization market fell by more than 18% in the first quarter.
  • This decline was accompanied by a drop in investor activity, with average daily trading volumes plunging 27.3% quarter-on-quarter.
  • Bitcoin fell by 11.8% in the same period, but its dominance increased, and it was outperformed by Gold and US Treasuries.

CoinGecko’s Q1 Crypto Industry Report highlights that the total crypto market capitalization fell by 18.6% in the first quarter, wiping out $633.5 billion after topping on January 18, just a couple of days ahead of US President Donald Trump’s inauguration. This decline was accompanied by a drop in investor activity, with average daily trading volumes plunging 27.3% quarter-on-quarter. In the same period, Bitcoin (BTC) fell by 11.8%, but its dominance increased, and it was outperformed by Gold and US Treasuries.

Crypto slump in Q1

On Wednesday, CoinGecko’s ‘Q1 Crypto Industry Report’ highlighted the crypto market’s overall performance in the first quarter. The report explains that the total crypto market capitalization fell by 18.6%, wiping out $633.5 billion from the crypto market in Q1. The market found a local top of $3.8 trillion on January 18, two days before Donald Trump’s inauguration, and by the end of the quarter, it stood at $2.8 trillion. Moreover, this decline was accompanied by a drop in investor activity, with average daily trading volumes plunging 27.3% quarter-on-quarter, as shown in the graph below.

Q1 total crypto market cap & trading volume chart. Source: CoinGecko

Q1 total crypto market cap & trading volume chart. Source: CoinGecko

The report further explains that the BTC continued to climb in dominance, increasing by 4.6% in Q1 and ending the quarter with a 59.1% dominance, levels not seen since Q1 2021. Crypto investors moved toward stablecoins to find stability from the market downturn, such as Tether (USDT), which rose slightly to a 5.2% market share. At the same time, USDC stablecoin regained its seventh spot, replacing Dogecoin (DOGE). 

Looking down on Ethereum (ETH), the report continued that ETH fell by 3.9%, with its dominance reaching 7.9%, the lowest level since late 2019. Other altcoins fell by a smaller magnitude, dropping by 3.5% to encompass 15.7% of the market. Only Ripple (XRP) and Binance Coin (BNB) retained their market share among the majors.

Q1 Crypto Dominance chart. Source: CoinGecko

Q1 Crypto Dominance chart. Source: CoinGecko

Gold and US Treasuries outperformed Bitcoin 

Bitcoin price rallied at the start of this year and reached a new all-time high of $106,182 on January 22, two days after Trump’s inauguration. This marked a year-to-date (YTD) top for BTC, as it trended down to end Q1 with a -11.8% decline at $82,514. 

Amidst this quarter of turmoil and uncertainty due to the US tariff concerns, geopolitical instability, expected Federal Reserve (Fed) interest rate cuts, and strong central bank demand fueled a rally in the precious metal and positioned Gold as a safe-haven asset, as reported in the previous article.

CoinGecko’s report explains that Gold rallied 18% in Q1. Alongside BTC, risk assets such as the NASDAQ and S&P 500 declined, falling -10.3% and -4.4%, respectively, as shown in the graph below.

Q1 Bitcoin vs. Major assets chart. Source: CoinGecko

Q1 Bitcoin vs. Major assets chart. Source: CoinGecko

The report continued: “The DXY, usually inversely correlated to risk assets, fell -4.6%, potentially due to uncertainty over US tariffs. The JPY (+5.2%) and EUR (+4.5%) strengthened against the USD, the former at least partially due to further unwinding of the Yen carry trade as the BOJ raised interest rates in January.” 

In an exclusive interview, Zhong Yang Chan, Head of Research at CoinGecko, told FXStreet that “the crypto market... is not immune to broader macroeconomic trends,” and emphasized that Bitcoin has shown notable resilience compared to altcoins, even amid ETF outflows and tightening monetary policy and said that “compared to other risk-on assets, we have actually seen Bitcoin weather the recent uncertainty pretty well, though altcoins have suffered badly in general. This is reflected in its dominance over the rest of the crypto market.”.

Chan added: “it is clear that the outlook for all financial markets, not just crypto, remain murky until there is more clarity and stability in macroeconomic conditions,” and “If Bitcoin is able to continue to remain resilient through this period, it will be on very firm footing for the rebound that will eventually come.”

면책 조항: 정보 제공 목적으로만 사용됩니다. 과거 성과가 미래 결과를 보장하지 않습니다.
placeholder
비트코인 매도 압력 커지나? 바이낸스 유입 10일 연속 증가비트코인이 최근 10일 연속 바이낸스로 순유입되며 거래소 보유량이 증가하고 있어, 시장에서는 잠재적인 매도 압력 확대 가능성에 주목하고 있습니다.
저자  FXStreet
5 월 26 일 화요일
비트코인이 최근 10일 연속 바이낸스로 순유입되며 거래소 보유량이 증가하고 있어, 시장에서는 잠재적인 매도 압력 확대 가능성에 주목하고 있습니다.
placeholder
은 가격 전망: 미·이란 협상 진전 기대에 XAGUSD 상승 재개 가능성, 90달러 저항 주목은 가격은 미·이란 협상 재개와 유가 하락에 따른 인플레이션 압력 완화 기대 속에 73.60~78.00달러 박스권 돌파를 시도하고 있으며, 78.38달러 안착 시 90달러 저항선이 다음 목표로 주목됩니다.
저자  FXStreet
6 월 02 일 화요일
은 가격은 미·이란 협상 재개와 유가 하락에 따른 인플레이션 압력 완화 기대 속에 73.60~78.00달러 박스권 돌파를 시도하고 있으며, 78.38달러 안착 시 90달러 저항선이 다음 목표로 주목됩니다.
placeholder
비트코인 전망: Strategy 매도와 Mt. Gox 상환 압력 속 60,000달러 지지선 지킬까비트코인은 Strategy 매도와 Mt. Gox 상환 관련 온체인 이동으로 매도 압력이 커진 가운데, 이번 주 미국 고용지표와 연준 금리 인하 기대가 60,000달러 지지선 방어의 핵심 변수로 주목됩니다.
저자  Mitrade팀
6 월 03 일 수요일
비트코인은 Strategy 매도와 Mt. Gox 상환 관련 온체인 이동으로 매도 압력이 커진 가운데, 이번 주 미국 고용지표와 연준 금리 인하 기대가 60,000달러 지지선 방어의 핵심 변수로 주목됩니다.
placeholder
비트코인 전망: 66,000달러 하회, 단기 보유자 손실 압력은 2월 수준으로 확대비트코인은 66,000달러 아래로 밀리며 단기 보유자의 손실 실현 압력이 2월 항복 매도 수준까지 확대됐고, 65,000달러 지지선 방어 여부가 단기 방향성의 핵심 변수로 주목됩니다.
저자  Mitrade팀
22 시간 전
비트코인은 66,000달러 아래로 밀리며 단기 보유자의 손실 실현 압력이 2월 항복 매도 수준까지 확대됐고, 65,000달러 지지선 방어 여부가 단기 방향성의 핵심 변수로 주목됩니다.
placeholder
금 가격 전망: ADP 호조와 NFP 대기 속 XAUUSD, 4,360달러 지지선이 관건금 가격은 ADP 고용지표 호조와 유가 상승에 따른 인플레이션 우려로 압박을 받고 있으며, 4,360달러 지지선 방어 여부와 5월 비농업 고용지표가 단기 방향성을 결정할 핵심 변수로 주목됩니다.
저자  Mitrade팀
18 시간 전
금 가격은 ADP 고용지표 호조와 유가 상승에 따른 인플레이션 우려로 압박을 받고 있으며, 4,360달러 지지선 방어 여부와 5월 비농업 고용지표가 단기 방향성을 결정할 핵심 변수로 주목됩니다.
goTop
quote