Both are equally important, because both were an essential part of God's plan. Without Christmas, there would be no Easter and without Easter, Christmas wouldn't matter.
Christmas marks nothing less than the coming of God's Son into the world. When Jesus was born in Bethlehem, most people took no notice; what difference did one more baby make? But on that night one group did take notice: the shepherds. The reason was because God sent an angel to them to announce Jesus' birth. He told them, "I bring you good news of great joy that will be for all the people. Today in the town of David a Savior has been born to you; he is Christ the Lord" (Luke 2:10-11).
Christmas was only the beginning, however. Jesus grew up first as a boy with His family, and then as a man. And when He began preaching, people flocked to hear Him because He told them about God's love for them. In time, however, His enemies put Him to death on a cross (a cruel means of execution reserved for criminals). His body was taken down and put in a borrowed tomb.
But the tomb could not hold Him! When some of His followers came to the tomb later, they found it empty. An angel appeared (just as at His birth) and said to them, "Why do you look for the living among the dead? He is not here; he has risen!" (Luke 24:5-6). Death and Hell had been conquered, and our salvation had been won. This is God's gift to us the gift of eternal life through Christ. Have you received this gift into your life?