$BTC #Bitcoin just closed its worst first quarter since 2018. In 2026, crypto plummeted around 23–25%, a number that had only been seen during full bear markets like that year. War and inflation entered the ring and hit the price hard.

The escalation between the United States and Iran pushed oil prices above $98 a barrel. All that energy shock translated directly into inflation, and the Federal Reserve responded by not cutting rates and revising its forecasts upward. Fewer cuts = less liquidity and less appetite for risk assets like Bitcoin.
Since early January, when Bitcoin was around $87,700, the price has been sliding down to about $66,600 in March. Today, it’s more than 40% below its all-time high of $126,000, reached in October 2025. It’s painful to see those numbers, but many analysts insist that the current context is different from 2018.
The bulls see more a crisis of confidence than a structural damage. Today, there are Bitcoin ETFs ready, investment funds accumulating, more institutional presence, and a supply shock from the halving that hasn’t fully reflected in the price yet. For them, the drop is ugly, but it doesn’t mean the cycle is dead.
For now, the market is in “wait and see” mode. Volume is weak, sentiment mixes fear and confusion, and everyone is watching the Middle East and inflation. If crude oil calms down and the macro outlook clears up, Bitcoin could breathe. If not, the market will keep pounding the price without mercy.