Bitcoin (BTC) price drops by 2.15 percent, Ether (ETH) price follows suit

The overall crypto market is undergoing a period of volatility amid ongoing macro-economic tensions like tariff wars.

The crypto market is showing signs of volatility amid ongoing macro-economic tensions like tariff wars. On Wednesday, March 12, Bitcoin price dropped by 2.15 percent and 3.65 on international and national exchanges respectively. BTC is presently trading at $81,778 (roughly Rs. 77.4 lakh) on global platforms as per CoinMarketCap. On Indian exchanges like Giottus and CoinSwitch, BTC is priced $83,703 (roughly Rs. 73 lakh).

“Bitcoin is facing turbulence, and its action will be key to driving the broader crypto market. Investors should be prepared for a choppy ride as the crypto scene navigates key technical resistance points and regulatory news that can swiftly change the market direction in the weeks ahead,” Avinash Sekhar, Co-Founder and CEO, Pi42 told Gadgets 360.

Ether has also been undergoing losses throughout the week. On Wednesday, the asset reflected a drop of under one percent to trade at $1,873 (roughly Rs. 1.63 lakh) on international exchanges. This is the first time in almost a year that the price of Ether has dipped under the mark of $2,000 (roughly Rs. 1.74 lakh). Indian exchanges show Ether trading at $2,009 (roughly Rs. 1.75 lakh) after clocking a loss of 1.53 percent.

“ETH's recent decline toward the $2,000 (roughly Rs. 1.74 lakh) level has resulted in the liquidation of over $918 million (roughly Rs. 8,006 crore) in leveraged long positions in ETH futures within just 15 days. A clear lack of institutional interest is evident in spot exchange-traded fund (ETF) flows. If prices manage to stabilize and sustain above $1,750 (roughly Rs. 1.52 lakh), we could expect a relief rally. However, if this support is breached, ETH may continue its descent and test the $1,500 (roughly Rs. 1.30 lakh) level,” said the ZebPay Trade Desk.

Majority altcoins reflected small gains on Gadgets 360's crypto price tracker on Wednesday.

These include Ripple, Binance Coin, Solana, Dogecoin, and Chainlink.

Other altcoins such as Stellar, Avalanche, Litecoin, Shiba Inu, and Leo also registered minor gains over the last 24 hours

The overall crypto market cap rose by 2.09 percent over the last day to claim the valuation of $2.65 trillion (roughly Rs. 2,31,11,842 crore), showed CoinMarketCap.

Meanwhile, Tron, Bitcoin Cash, Cronos, Zcash, and Status joined BTC and ETH on the loss-making side of the price charts.

“Investors will be closely monitoring the upcoming U.S. inflation report for March, especially in the wake of President Trump's administrative actions on tariffs. The report's implications for monetary policy and risk assets could heavily influence market dynamics. In the broader market, sentiment remains cautious, with many investors awaiting further confirmation of a sustained recovery,” the CoinSwitch Markets Desk told Gadgets 360.

Cryptocurrency is an unregulated digital currency, not a legal tender and 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 sort offered or endorsed by Gadgets 360. Gadgets 360 shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.