H1 2025 in Crypto: How Bitcoin and Ethereum Performed in the First Half

July 1 is a special checkpoint. It ends the month, the quarter, and the first half simultaneously. That’s when market pros measure their outcomes and fine-tune their strategies. Of course, Bitcoin and Ethereum headline that mid-year assessment.

Three-Line Convergence

When three critical periods – month end, quarter end, and half-year end – all collide, you get a “crossed lines” effect. Investors scrutinize performance more intensely and adopt systematic approaches. Institutions finalize quarterly fund reports, refresh index compositions, and rebalance portfolios.

Such periods frequently see surges in volatility, heavier trading activity, and significant price swings.

June 2025: Bitcoin Climbs, Ethereum Slips

Bitcoin traded between $98,000 and $110,000 throughout June and closed at $107,000, registering a 2.49% monthly gain.

Ethereum proved choppier and closed lower. It started June at $2,528 and ended at $2,485, logging a 1.49% loss. The month’s price swings reflected ETF interest, but ETH largely stayed within a consolidation range.

Both assets traded within normal ranges during the first two weeks, but volumes climbed as the month closed out, driven by position unwinding and quarter-end preparations. On June 6, Coinbase saw 6,200 BTC change hands; by June 22, that figure reached 8,440 BTC.

After Jerome Powell’s mildly dovish remarks at the June 18 Fed meeting, volatility spiked, and short-term traders ramped up their activity.

Other telling signals included:

• A sharp shift in futures funding rates toward long bets.
• A rise in open interest, signaling confidence in further upside.
• Mixed social-media sentiment, mirroring traders’ hesitation ahead of the new quarter.

Second Quarter Highlights: Bitcoin Up, Ethereum Surges

Q2 is the season that validates the year’s opening assumptions. Markets may wobble in January, but by midsummer they must prove their direction. Bitcoin began Q2 at $82,550 and soared to $107,146 by month’s end, delivering a 29.74% return.

Ethereum opened the quarter at $1,822 and closed at $2,485, posting a 36.4% gain. In Q2, ETH showed heightened sensitivity to sectoral catalysts – most notably the Pectra upgrade, the rapid rollout of Layer 2 solutions, and increased Ethereum ETF interest.

Both networks maintained solid momentum. Active addresses increased month over month. Bitcoin’s hash rate reached new local records in April and May. Then the Iran–Israel conflict tested network resilience. In May, trading volumes tumbled and remained depressed in June.

To put it in perspective, traders peaked in February with 200,000 BTC traded. That average fell to 80,000 BTC by May.

Six Months of 2025: BTC vs ETH Performance Snapshot

The year kicked off with lofty forecasts. News of Trump’s pro-crypto inauguration fueled a Bitcoin spike. Crypto funds kept drawing in fresh money. Risk appetite looked fully restored. Regulators applied moderate oversight while undergoing internal shake-ups. Everyone expected the bull run to persist.

By June’s end, the record was mixed. Bitcoin gained from $93,576 in January to $107,146, up 14.5%. Its sharpest rallies hit in February–March and again in June. Ethereum, however, struggled to keep pace. It launched H1 at $3,337 but closed at $2,485, down 25.54%. Even Eric Trump’s unexpected PR push couldn’t halt the slide.

Bitcoin’s market cap share stayed above 60%, and it led all cryptos in ROI. Ethereum’s returns remained more erratic, leaving it behind in the half-year standings.

Conclusion

H1 2025 confirmed that the crypto market stays active, though it’s entering a more cautious phase of re-pricing expectations. Bitcoin and Ethereum continue to lead, but their upward momentum has slowed. The third quarter looms large – it’s frequently where trends shift.

Watching July will be critical. Despite the usual lull of summer vacations, July often defines the market’s trajectory into year-end.