Major cryptocurrencies, including Bitcoin, Ethereum, and XRP, have plunged to weekly lows, with Bitcoin dropping to around $83,736, reflecting a decline of approximately 4% for the day. Ethereum has seen a significant 6% decrease, reaching $1,875, while XRP fell about 7% to $2.17. These declines coincide with broader stock market losses attributed to rising inflation concerns, particularly following a higher-than-expected Personal Consumption Expenditures Price Index (PCE) report which indicated a 0.4% rise in February. The crypto market experienced over $450 million in liquidations on the day, primarily affecting long positions, with Ethereum leading at $136 million and Bitcoin following with $118 million. The overall market sentiment remains bearish, compounded by ongoing inflation fears and the impact of U.S. trade tariffs. Investors are closely monitoring these developments alongside quarterly Bitcoin options contracts, which are expected to add to market volatility in the near term.

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