Ethereum and Bitcoin Went Through Very Different Trajectories

Ethereum and Bitcoin went through very different trajectories in the first quarter of 2025, and the divergence could not be more obvious.

The first quarter of 2025 saw Ethereum and Bitcoin take very different paths, with their divergences being difficult to ignore.

As per data from on-chain analytics firm IntoTheBlock, Ethereum's performance was lackluster, to say the least, as it experienced a nearly 50% drop in value over the past three months.

Bitcoin, on the other hand, encountered a smaller decline above 15% as it went through a correction. This observation aligns with the broader trend in the crypto market, where the majority of inflows and interest went toward Bitcoin and a few altcoins, leaving Ethereum struggling to regain momentum.

Bitcoin Began Q1 2025 On A Bullish Note With Strong Interest In Bitcoin Spot ETFs

Bitcoin began Q1 on a notably bullish trajectory due to increasing institutional interest and strong inflows into Spot Bitcoin ETFs, a combination which pushed the price to a new all-time high of $108,786 on January 20.

This price marked the peak of a steady upward movement that has placed Bitcoin firmly in the spotlight since October 2023. However, a pronounced downtrend followed this peak, particularly in March, when the Bitcoin price dipped below $80,000 for the first time since November 2024.

An already struggling Ethereum price fared much worse and broke below a strong support of $1,900. According to data from Cryptorank, Ethereum closed Q1 2025 with a 45.3% decrease from its quarterly open.

This marks the second-worst Q1 performance for Ethereum, behind a 47.5% decline in Q1 2018. Bitcoin, on the other hand, ended Q1 2025 with an 11.7% decrease from its opening price.

Image From X: IntoTheBlock

Ethereum Price Direction: $1,800 On Crosshairs As Analysts Grow Cautiously Bullish

Ethereum's decline has been amplified by a visible drop in trading interest and inflows even in Spot Ethereum ETFs. Most of the attention has been on Bitcoin, with Solana, Dogecoin, and XRP taking the most significant share of interest in the altcoin market.

Nonetheless, many crypto analysts are still bullish on Ethereum and are on the outlook of a bounce as it is now nearing a bottom around $1,800. According to a crypto analyst (@CryptoELlTES ) on social media platform X, Ethereum at $1,800 is the bottom.

This outlook is based on this level, which acted as resistance in the 2022 bear market and is expected to flip to become support. Another analyst (Crypto Fella) noted that a reversal at this point “would be very good for alts,” suggesting a possible broader market recovery for altcoins if Ethereum finds solid footing here.

Image From X: @CryptoELlTES

At the time of writing, Ethereum is trading at $1,803, down by $0.18% and 1.9% in the past 24 hours and seven days, respectively.