WASHINGTON (dpa-AFX) - Anxiety ahead of the scheduled release of consumer price inflation readings from the U.S. on Wednesday morning have weakened cryptocurrencies. The volatile and grim geopolitical situation surrounding the Middle East war also swayed sentiment. Net inflows to U.S.-listed Bitcoin and Ethereum Spot ETF products however limited losses. Overall crypto market capitalization has decreased 1.6 percent in the past 24 hours while market leader Bitcoin traded between $71,770.90 and $69,327.06 during the same period.
Data to be released by the U.S. Bureau of Labor Statistics is expected to show annual headline inflation remaining steady at 2.4 percent in February. The core component thereof is also expected to remain steady at 2.5 percent. While the month-on-month inflation is expected to edge up to 0.3 percent from 0.2 percent in January, the core component thereof is expected to edge down to 0.2 percent from 0.3 percent in January.
Several key economic data releases are due from the U.S. before the Federal Reserve's next interest rate decision scheduled for Wednesday, March 18. These inter alia include PCE-based inflation readings for January, producer price inflation readings for February, JOLTS Job openings for January as well as the second estimate of fourth quarter GDP.
With the spike in crude oil prices feared to raise price pressures, markets overwhelmingly expect the Federal Reserve to hold rates steady in the ensuing FOMC. The CME FedWatch tool that tracks the expectations of interest rate traders shows the likelihood of a pause by the Fed on March 18 at 99.4 percent.
The decline in cryptocurrency prices comes also amidst a volatile global market scenario. With the escalation in attacks on ships in the Strait of Hormuz triggering a rebound in crude oil prices, bond yields have hardened and the safe haven dollar has rallied. Stock and precious metal prices have in the meanwhile retreated.
The CMC Fear and Greed Index, a proprietary tool developed by CoinMarketCap to measure the prevailing sentiment in the cryptocurrency market meanwhile is remaining steady at 25, in territory denoting 'fear'.
Amidst the geopolitical escalation, overall crypto market capitalization has decreased 1.6 percent in the past 24 hours to $2.37 trillion. Market capitalization of stablecoins increased 0.12 percent in the past 24 hours to $320.46 billion, implying a market share of 13.54 percent. The 24-hour trading volume also decreased more than 2 percent to $105 billion.
Bitcoin (BTC), the largest cryptocurrency is trading 1.93 percent lower at $69,460.58. The current price is around 45 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has lost 2.8 percent in the past week and 20.6 percent till date in 2026.
Bitcoin Spot ETF products in the U.S. witnessed net inflows rising to $247 million on Tuesday versus $167 million Monday. Market leader iShares Bitcoin Trust ETF (IBIT) recorded net inflows of $186 million followed by Fidelity Wise origin Bitcoin Fund (FBTC) that recorded net inflows of $34 million.
Bitcoin is continuing in the 13th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
Ethereum (ETH) has also declined 1.98 percent overnight as it dropped to $2,020.54. The leading alternate coin is trading 59 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $2,087.99 and $2,009.71.
Ethereum Spot ETF products in the U.S. witnessed net inflows of $13 million on Tuesday versus net outflows of $51 million on Monday. Fidelity Ethereum Fund (FETH) topped with net inflows of $11 million.
Meanwhile, Ethereum has slipped two notches to the 73rd position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
4th ranked BNB (BNB) shed 0.81 percent overnight resulting in price decreasing to $640.95. BNB is now trading 53 percent below the all-time high of $1,370.55 touched on October 13, 2025.
5th ranked XRP (XRP) slipped 2.6 percent overnight to trade at $1.37, around 64 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana (SOL) decreased 2.3 percent overnight to $85.08. SOL's current price is around 71 percent below its all-time-high of $294.33 recorded on January 19, 2025.
TRON (TRX) ranked 8th overall rallied 1.1 percent overnight and is currently changing hands at $0.2882. The trading price is 35 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.
9th ranked Dogecoin (DOGE) slipped 2.9 percent overnight and is currently trading at $0.0918. DOGE is trading 88 percent below the peak price of $0.7376 recorded on May 8, 2021.
10th ranked Cardano (ADA) recorded an overnight slippage of 2.9 percent. ADA is currently trading at $0.2580, around 92 percent below the record high of $3.10 touched on September 2, 2021.
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