Cryptocurrency Price on March 15: Bitcoin falls below $68,000 on US rate cut concerns; Dogecoin, Shiba Inu tank 11%
cryptocurrency by value.
Meanwhile, Ethereum, the second largest crypto token, also plunged over 7% to $3,685. The global cryptocurrency market cap declined 6.15% to around $2.6 trillion in the last 24 hours.
Other popular crypto tokens such as BNB (-5.6%), XRP (-7%), Cardano (-5%), Dogecoin (-11%), Shiba Inu (-11.7%), and Polygon (8.2%) declined.
«In the past 24 hours, the crypto market experienced a bearish trend, with both BTC and ETH declining by over 7%. This could be attributed to slightly bearish CPI and PPI data, along with some profit booking. Additionally, for ETH, the Dencun upgrade going live might have triggered a „sell the event“ scenario,» said CoinDCX Research Team.
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View Details»On a similar line, Shivam Thakral, CEO of BuyUcoin, said, «This price action could be linked to the announcement of the Producer Price Index (PPI) by the Fed, which was higher by 0.6% last month. The Fed is signaling that no interest rate cut could be expected at the May meeting.»
The total crypto market volume over the last 24 hours is $184.12 billion,
