Bitcoin, Ethereum plunge, overall cryptocurrency charts post losses

On Friday, March 15, the entire cryptocurrency price chart fell. Bitcoin, which has been rising for several days, suffered a significant loss of 7.90%. As of writing this article, Bitcoin is trading at $67,765 (approximately Rs. 5.61 crore). On the last day, the value of BTC dropped significantly by $5,353 (approximately Rs. 4.43 lakh). Bitcoin managed to maintain its value above $73,000 (roughly Rs. 60.5 lakh) for most of the week before pulling back.

As markets turned lower on Friday, Ethereum fell even deeper than Bitcoin. After ETH price fell by 11.31%, its value reached $3,500 (approximately Rs. 2.9 lakh). The highest price ETH hit this week was $3,950 (approximately Rs. 3.27 lakh).

“Bitcoin has experienced a flash dump in the past 24 hours. Ethereum has seen similar price action, which may be related to the Fed’s announcement of the Producer Price Index (PPI), which rose 0.6% last month. The Fed said it does not expect to cut interest rates at its May meeting,” BuyUcoin CEO Shivam Thakral told Gadgets360.

Most cryptocurrencies posted losses on Friday as BTC and ETH fell.These include Tether, Solana, Ripple, USD Coin, Cardano, Shiba Inu, Polkadot and [Tron] (https://www.gadgets360.com/finance/tron-price-in-india-today-inr).

Uniswap and Litecoin also fell alongside BTC and ETH on Friday. In the past 24 hours, the overall market value of cryptocurrencies has fallen by 5.73%. As of the time of writing this article, the cryptocurrency market is valued at $2.59 trillion (approximately Rs. 21,474,000 crore). coin market cap.

Some cryptocurrencies did manage to hold on to gains on Friday. These include Bitcoin Cash, Near Protocol, Leo and Iota.

At the same time, players in the cryptocurrency industry are expanding their businesses and operations at the international level. For example, the Singapore subsidiary of cryptocurrency exchange OKX received in-principle approval for a payments license to operate in Singapore.

Cryptocurrency is an unregulated digital currency, not legal tender, and is subject to market risks. The information provided in this article is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind provided or endorsed by NDTV. NDTV is not responsible for any losses incurred as a result of any investment based on any perceived recommendations, predictions or any other information contained in the article.