Bitcoin and Ether have lost more than 2% of their values over the past 24 hours as the cryptocurrency market gave up the gains it accumulated earlier this week.

Ether, the leading altcoin by market cap, risks dropping below the $2,000 psychological level after failing to overcome the $2,197 resistance level once again.

Despite that, Ether could rally in the near to medium term as it ended a six-month loss streak, posting an average gain of roughly 7% in March. 

Ether added 7% in March despite the Middle East war

Ether is currently trading at $2,040, down 2.9% in the last 24 hours.

The bearish performance comes after President Trump increased the timeline for the ongoing war with Iran, eliminating hopes of a quick resolution to the crisis.