According to online reports, according to Cointelegraph, Bitcoin and Ethereum fell 11.82% and 45.41% respectively in the first quarter of 2025, setting the weakest Q1 performance in many years. Matt Hougan, chief investment officer of Bitwise, called it "the best and worst quarter in crypto history." Analysts pointed to several factors that could drive a rebound in the Q2 market: an increase in the global money supply, an improved regulatory environment in the United States, and a record high in asset management in stablecoin (over $218 million).