Bitcoin price drops by 1.40 percent

The crypto price charts reflected more losses than gains on Friday, March 21. In the last 24 hours, Bitcoin price dropped by 1.40 percent on international exchanges.

Crypto prices were mostly in the red on Friday, March 21. In the last 24 hours, Bitcoin price dropped by 1.40 percent on international exchanges. CoinMarketCap data shows that Bitcoin is currently trading at $84,500 (roughly Rs. 72.8 lakh) on global platforms. The most expensive cryptocurrency, Bitcoin, also registered losses of around two percent on Indian exchanges over the last day. Data by CoinSwitch and Giottus show the asset priced between $86,200 (roughly Rs. 74.3 lakh) to $88,145 (roughly Rs. 76 lakh).

“Bitcoin has yet to accumulate enough momentum for a decisive breakout. Bulls have successfully defended the $80,000 (roughly Rs. 68 lakh) level for six consecutive days, signaling strong support. While the market remains in consolidation, sustained buying pressure could trigger another upward move. If decline continues, the $80,000 (roughly Rs. 68 lakh) zone could be the next key level to watch, especially heading into the weekend,” Edul Patel, CEO and cofounder of Mudrex told Gadgets 360.

Ether price dropped by 2.3 percent in the last 24 hours. On global exchanges, ETH is trading at $1,974 (roughly Rs. 1.70 lakh). Meanwhile, the asset price dropped by 2.10 percent on Indian platforms to claim the pricing of $2,064 (roughly Rs. 1.78 lakh).

“Ethereum remains stuck within an ascending range. This suggests the market volatility has begun to escalate, consistently forming higher highs and lower lows,” said the CoinDCX markets desk.

The crypto price tracker by Gadgets 360 showed loses next to majority altcoins on Friday.

These include Solana, Cardano, Dogecoin, Cardano, and Avalanche.

Shiba Inu, Polkadot, Bitcoin Cash, and Cronos also succumbed to the market slowdown and reflected losses on the price charts.

“Broader market volatility has Bitcoin, Ethereum, and Dogecoin losing gains despite political support for crypto adoption. The evolving environment equates to increased volatility as traders macroeconomic trends, regulatory changes, and institutional participation. Additionally, with greater institutional focus and mass adoption, the long-term prospect remains attractive despite short-term fluctuations,” Avinash Shekhar, Co-Founder and CEO, Pi42 told Gadgets 360.

The overall crypto market cap slipped by 1.15 percent over the last day. As per CoinMarketCap, the valuation of the sector currently stands at $2.77 trillion (roughly Rs. 2,38,98,099 crore).

Tether, Uniswap, Aave, Iota, and Baby Doge Coin were among a handful of altcoins that managed to see small gains.

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The macroeconomic environment and political developments will continue to influence cryptocurrency prices in the coming days.

The price of Bitcoin (CRYPTO: BTC) dropped slightly over the last 24 hours and was trading at around $84,500 as of Friday morning. The price of the world’s biggest cryptocurrency slid by 1.40 percent on international exchanges, while it dropped by around two percent on Indian exchanges such as CoinSwitch and Giottus, which priced the asset at $86,200 (roughly Rs. 74.3 lakh).

What Happened: According to Edul Patel, CEO and cofounder of crypto investment firm Mudrex, BTC has yet to accumulate enough momentum for a decisive breakout.

"Bulls have successfully defended the $80,000 level for six consecutive days, signaling strong support. As the market remains in consolidation, sustained buying pressure could trigger another upward move. If decline continues, the $80,000 zone could be the next key level to watch, especially heading into the weekend," Patel said in an email to Benzinga.

The price of Ether (CRYPTO: ETH) dropped by 2.3 percent over the last 24 hours and was trading at $1,974 with the price on Indian exchanges lower at $2,064.

"Tracking the recent movements in the cryptocurrency market, we observe that Ethereum is now testing the lower boundary of an ascending channel. This suggests the market volatility has begun to escalate, consistently forming higher highs and lower lows," said the CoinDCX markets desk.

The macroeconomic environment and political developments might continue to influence crypto prices.

"Despite political support for crypto adoption, broader market volatility has resulted in Bitcoin, Ethereum, and Dogecoin experiencing a decline in their value. This evolving environment contributes to increased