In previous years, trends in the TradFi market have caused risk-on assets like crypto to spike in Q2, especially in April. This could provide a much-needed bullish narrative for the space.

A report from QCP Capital examined several trends, focusing primarily on the S&P 500’s performance and Bitcoin’s price history over the last decade as the key market indicators.

Could Q2 2025 Be Good For Crypto?

According to a new report from QCP Capital, the crypto markets may enter a bullish period in Q2 2025. This conclusion is derived from the intertwining nature of crypto and TradFi markets.

Additionally, this data is supported by various crypto-native trends.

> “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,” QCP stated via Telegram.

With the crypto market’s need for a bullish narrative, this speculation for Q2 is certainly welcomed. QCP pointed out recurring trends in TradFi sectors like the S&P 500, which are even more evident in crypto.

For example, Bitcoin serves as a significant bellwether. Its price is closely linked to the broader crypto market, and it has often rallied in Q2, especially in April.

Historical Performance

In 2017, Bitcoin’s price was around $1,000 until it surged past $2,000 in mid-May, sparking a larger rally. In 2021, a massive price spike peaked in April before a brief drop in May.

In 2024, Q2 marked a significant bullish period for crypto. Bitcoin climbed rapidly following the approval of Bitcoin Spot ETFs in January, surpassing $60,000 in late February and early March, reaching a new all-time high by April.

Meanwhile, high-yield credit markets showed solid performance, with CC-rated bonds outperforming, indicating a healthy appetite for risk-on assets.

Moreover, diminishing tariff concerns have already led to an increase in risk-on asset performance across the board in 2025. This trend is hoped to continue boosting crypto markets in Q2.

If these broader trends persist as in previous years, the market might enter a favorable cycle in the coming months.