Bitcoin and Ether Post Rare Back-to-Back Quarterly Losses
Bitcoin and ether are on course to end the second quarter with losses, marking consecutive quarterly declines for the first time in years, according to derivatives research analyst Piyush Walke of Delta Exchange.
Bitcoin has fallen nearly 7 per cent this week, with many altcoins suffering steeper drops. The second quarter has historically been one of bitcoin's strongest periods, making this year's performance a notable deviation from the trend. This is only the third time bitcoin has started the year with two straight losing quarters.
As of the latest data, bitcoin is trading just above $59,000. Technical indicators show key moving averages overhead acting as resistance. A sustained move below $59,000 could lead to a deeper correction towards the $52,000 region. Conversely, a break above the $61,200–$62,500 resistance zone might spark a recovery towards $64,000–$66,000. The outlook remains cautious until a clear breakout occurs.
Ether, the second-largest cryptocurrency, is holding above the critical support level of $1,500. A break below this level could trigger a decline towards $1,440. On the upside, the $1,680–$1,700 zone is the key resistance that bulls need to reclaim to regain momentum.
These developments reflect ongoing volatility in the cryptocurrency market, influenced by macroeconomic factors and shifting investor sentiment.
