The crypto markets could be in for a bullish period in Q2 2025, according to a new report from QCP Capital. The report extrapolates from several data sources, primarily the interconnectedness of crypto and traditional financial (TradFi) markets. However, the report also includes data from a wide range of crypto-native trends.
QCP Capital sent out a message via Telegram, stating, “One of the fastest US stock downturns in recent history may well be behind us—or so JPMorgan and a growing chorus of strategists are telling their clients. Q2, and April in particular, has historically been one of the best periods for risk assets.”
Given the crypto market’s desperate need for a bullish narrative, this Q2 speculation is being welcomed with open arms. QCP Capital pointed to recurring trends in TradFi sectors like the S&P 500, some of which are even more pronounced in the crypto markets.
The price of Bitcoin serves as an excellent example of these trends. Bitcoin’s price is closely tied to the broader crypto market, and it has often rallied in Q2, especially in April.
For example, in 2017, Bitcoin’s price stayed around $1,000 until it broke $2,000 in mid-May, which triggered a larger rally. In 2021, a massive price spike reached its peak in April and briefly fell in May.
In 2024, Q2 was a significantly bullish period for crypto. Following the approval of Bitcoin Spot ETFs in January, BTC quickly climbed, breaking $60,000 in late February and early March and setting a new all-time high by April.
Simultaneously, high-yield credit markets showed strong performance, with CC-rated bonds outperforming. This indicates a healthy appetite for risk-on assets.
Moreover, the easing of tariff fears is already leading to an increase in the performance of risk-on assets across the board in 2025. It is hoped that this retreat will continue to boost the crypto markets in Q2.
If these broader trends persist as they have in past years, the market could enter a positive cycle in the coming months.
Crypto is a volatile space known for its significant price swings. However, these trends suggest that the market could be entering a more positive phase in the near future. While it’s impossible to predict the future with total certainty, this report provides a glimmer of optimism for crypto investors and enthusiasts alike.
