The pattern previously appeared in 2018 and 2022, which the source describes as the two worst years on record, with no second-half recovery in either case.
Bitcoin has started Q3 down in both quarters for only the third time in its history, matching a pattern last seen in 2018 and 2022. The source says those were the two worst years on record and that, in both instances, the second half did not bring a recovery. The setup matters because traders often watch quarterly performance for signs of momentum, and repeated weakness across the first half of the year can signal broader risk aversion in crypto markets.