Crypto markets are facing a tough first quarter in 2025, with Bitcoin and Ethereum struggling to rally. Ethereum has plunged nearly 38%, its worst Q1 since 2018, while Bitcoin is down 6.49%, marking its poorest Q1 since 2020. Analysts, like Swyftx's Pav Hundal, suggest a significant upswing is unlikely before April. Despite historical Q1 gains, unexpected macroeconomic factors, including tariffs and interest rate uncertainties, have dampened market optimism. The overall crypto market cap has dropped 11.65% since January, reflecting broader market challenges.