The first quarter of the year was eventful in the cryptocurrency markets. Significant developments, such as Bitcoin breaking records and the signing of an executive order to establish a strategic Bitcoin reserve in the US, garnered attention. Cryptocurrencies experienced a volatile trend over the three-month period. Bitcoin, the cryptocurrency with the highest market value, set a price record above $109,000 in January. However, the price of Bitcoin rapidly declined later, falling below $80,000 in March. During this time, many altcoin projects also experienced losses of over 50%.

TRUMP EFFECT IN THE MARKETS
Some moves by US President Donald Trump were decisive in the volatility experienced in the cryptocurrency market in the first quarter of the year. During his candidacy, Trump had a favorable approach to the ecosystem, and after assuming office on January 20, he established an economic leadership team with “crypto-friendly” figures. In March, Trump also signed an executive order to establish a “Strategic Bitcoin Reserve.” This enabled Bitcoin to find a place in the US reserves alongside assets such as gold and oil. During this period, President Trump announced that Ethereum, Ripple, Solana, and Cardano projects would also be added to the reserve.

FIRST CRYPTO SUMMIT AT THE WHITE HOUSE
The White House hosted its first cryptocurrency summit last month. Donald Trump stated during the summit on March 7 that they were working to make the US the “world’s Bitcoin superpower” and “the crypto capital of the planet.” The summit was attended by leading figures in the cryptocurrency market, top executives, and investors alongside White House Artificial Intelligence and Crypto Czar David Sacks, Secretary of Commerce Howard Lutnick, and Treasury Secretary Scott Bessent. In the following days, Trump delivered messages supporting the ecosystem and became the first US President to attend a private crypto event.

CRYPTO MOVES FROM HEADS OF STATE
US President Donald Trump further increased his interest in the cryptocurrency market during the first quarter of the year by launching a cryptocurrency project called “Trump.” Sharing the cryptocurrency project bearing his name via his social media account led to a rapid increase in the asset’s value, reaching a market capitalization of $15 billion. Following “Trump,” a project named “Melania” was also released on behalf of President Trump’s wife. Following these cryptocurrencies, Argentine President Javier Milei shared a post regarding the “Libra” project on his social media account. However, over time, the prices of all these assets rapidly declined, resulting in many investors’ losses. March also saw one of the largest cyber attacks in the cryptocurrency market, where approximately $1.5 billion worth of assets were stolen from the Bybit exchange.

ALTCOIN ETF APPLICATIONS CONTINUE
With the approval of Bitcoin exchange-traded funds (ETFs) last year, individual and institutional investors in the traditional finance system gained access to these assets. By the end of March, the total value of Bitcoin ETFs, highly sought after on the institutional side, had exceeded $100 billion. In addition to Bitcoin and Ethereum, large US-based investment firms such as BlackRock and VanEck, among others, also filed ETF applications for altcoin projects like Solana, Ripple, Cardano, Litecoin, Dogecoin, and Hedera in the first quarter of the year.

NEW REGULATIONS IN TURKEY TAKE EFFECT
While the first legal framework regarding crypto assets in Turkey was established in July 2025, secondary regulations came into effect last month. The secondary regulations specified the principles and procedures regarding the establishment and operation of crypto asset service providers known as cryptocurrency exchanges. The minimum capital limit for exchanges was set at 150 million Turkish lira, and the capital limit for institutions offering cryptocurrency custody services was set at 500 million Turkish lira. With the regulations, exchanges were allowed to insure customer assets. A requirement to establish a three-person listing committee for exchanges to list cryptocurrency assets was introduced, and these regulations provided until June 30 for compliance.