Crypto Market Sheds $633B in Q1 as Gold Outshines Bitcoin Ahead of Bullish Q2 AllinCrypto April 17, 2025
The cryptocurrency market, along with Bitcoin, lost $633 billion in a drop amounting to 18.6% over the course of Q1 2025, prompted by Trump tariffs and investor uncertainty.
In a report by crypto market data website CoinGeko, Bitcoin dominance rose by 59.1% while BTC’s price went down by 11.8% and was outperformed by Gold and US treasuries.
The news comes as traditional markets, including the S&P 500, reacted to market uncertainty spurred by President Trump’s global tariffs, causing confusion in TradFi and spreading into crypto. Despite this, Bitcoin has held up.
Gold and US Treasuries outperformed Bitcoin in Q1
In a new report from CoinGeko, the crypto market during Q1 2025 suffered from a $633 billion lost, falling 18.6% over the aforementioned time period.
The drop led to Bitcoin and crypto as a whole being outperformed by Gold and US Treasuries. Gold reached a new all-time high of $3,245 on April 14, 2025, with gold maxi Peter Schiff celebrating.
Etheruem, the second-largest cryptocurrency in the crypto market, lost all of its gains made in 2024 after falling from highs of $3,000 to $1,805. In relation to ETH, multi-chain decentralized finance lost $48.9 billion in TVL (Total Value Locked), down 27.5%.
According to CoinGeko, Donald Trump’s inauguration and memecoin launch for TRUMP, followed by MELENIA on Solana, led to a mini memecoin bull market and led to new tokens on Pumpfun reaching a daily high of 72,000.
Trump’s memecoin led to the creation of LIBRA, promoted by the Argentinian president, Javier Milei. LIBRA reached a $4.6 billion market capitalization before insiders ‘rugged’ the token to around $200 million, crushing the memecoin bull trend.
LIBRA’s crash affected Pumpfun with daily token launches falling by 56.3% from its January 2025 peak. Graduated tokens fell from 1.4% to 0.7%, a startling statistic meaning fewer tokens were being promoted to Solana’s main trading DEXs.
Crypto market set for a bullish Q2, according to Bitwise
CoinGeko’s report has shown the sharp decline in crypto DeFi TVL and market capitalization since Trump’s inauguration and following economic policies, which rattled the traditional markets the most.
Despite the red in the charts in recent months, Bitcoin has managed to hold and tread in price over $82k, a good sign for the strength of the markets.
Falling wedges have appeared on multiple altcoins, including Bitcoin, as bearish selling volume has begun to dry up, signifying that the market as a whole is preparing for continuation at some point in the future if things do not turn sour.
Bitwise CIO Matt Hougan has pinpointed four key catalysts for Q2 2025 wihtin the crypto market, including stablecoins, M2 money supply, and pro-crypto regulations.
Despite a rocky Q1, the total stablecoin market cap made a new all-time high of $218 billion, with tokenized real-world assets reaching $19 billion, followed by Ethereum and L2 transactions hitting $1.2B+.
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