[DigitalToday reporter Yoonseo Lee (이윤서)] Bitcoin fell about 22 percent in the first quarter of 2026, marking its weakest first-quarter performance in eight years since 2018.

On April 2 local time, blockchain media outlet The Crypto Basic reported that bitcoin ended the first quarter at $68,233. By Coinglass figures, bitcoin's first-quarter return was the lowest since a 49.7 percent drop in 2018.

Bitcoin rose 8.74 percent in the first quarter of 2019. It posted -10.83 percent in 2020, 103 percent in 2021 and -1.46 percent in 2022. It then gained 71 percent in 2023 and 68 percent in 2024, but turned lower again in the first quarter of 2025 at -11.82 percent.

At the start of the first quarter this year, bitcoin began around $87,500 and climbed to near $95,000. It then turned lower and slid to $60,000 on Feb. 6. It rebounded to around $70,000 in late February, but came under renewed downward pressure as geopolitical tensions in the Middle East coincided. As tensions rose after the assassination of Ali Hossein Khamenei, who had been Iran's supreme leader, bitcoin fell to $63,000, and volatility persisted in March as the conflict continued.

Weakness has continued into the second quarter. After U.S. President Donald Trump signaled he could move away from existing peaceful solutions and suggested the possibility of additional military action in the coming weeks, bitcoin slid to around $66,700. Over the same period, Ethereum, Binance Coin (BNB) and XRP were also affected, falling about 3 to 4 percent each.

Coinglass data showed bitcoin recorded an average April return of 11.94 percent and a median monthly return of 5.04 percent. But if the Middle East conflict continues, it is hard to be sure April will end higher.

Bitcoin is now down about 2 percent on the day, trading around $66,900. The market is seen as being affected by increased uncertainty from the Middle East and stronger risk-off sentiment after Trump suggested additional military action, with attention focused on the cryptocurrency market's next moves.