Bitcoin and Ether Record Sharp Drops, Overall Cryptocurrency Chart Reflects Losses

The overall cryptocurrency price chart recorded losses on Friday, March 15. Bitcoin, which has been recovering for days, suffered a notable loss of 7.90%. At the time of writing, Bitcoin was trading at $67,765 (around Rs. 56.1 lakh). Over the past day, BTC value decreased substantially by $5,353 (around Rs. 4.43 lakh). Before retreating, Bitcoin managed to maintain its value above the $73,000 mark (around Rs. 60.5 lakh) for most of the week.

Ether posted an even bigger loss than Bitcoin as the market turned negative on Friday. The value of ETH reached $3,500 (around Rs. 2.90 lakh) after the asset price fell by 11.31%. The highest price ETH managed to touch this week was $3,950 (around Rs. 3.27 lakh).

“Bitcoin has undergone a flash dump in the last 24 hours. Ethereum also saw similar price action which could be linked to the Fed’s Producer Price Index (PPI) announcement, which was 0.6% higher last month. The Fed is signaling that no interest rate cut can be expected at its May meeting,” Shivam Thakral, CEO of BuyUcoin, told Gadgets360.

Most cryptocurrencies recorded losses on Friday following the decline in BTC and ETH. These include Bind, Solana, Ripple, Currency in USD, Cardan, Shiba Inu, Polka dotAND [Tron] (https://www.gadgets360.com/finance/tron-price-in-india-today-inr).

Uniswap AND Litecoin they recorded losses along with BTC and ETH on Friday. The overall cryptocurrency market capitalization has fallen by 5.73% in the last 24 hours. At the time of writing, the cryptocurrency market valuation stood at $2.59 trillion (approximately Rs. 2,14,74,000 crore), according to CoinMarketCap.

Some cryptocurrencies managed to maintain gains on Friday. These include Bitcoin Cash, Close to the protocol, LeoAND Iota.

Cryptocurrency industry players, meanwhile, are expanding their businesses and operations internationally. The Singapore branch of cryptocurrency exchange OKX, for example, has received primary approval for a payments license to operate in the city-state.

Cryptocurrency is an unregulated digital currency, it is not legal tender and is subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be liable for any losses resulting from investments based on recommendations, forecasts or any other information contained in the article.

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