The prices of cryptocurrencies have experienced a strong decline in the last hours, Bitcoin (BTC) now decreased by about 3% in the last 24 hours, while the main altcoins, including XRP, BNB and Sol, are down between 4% and 5% over the same period.
The wider market of cryptocurrencies, represented by the Coindesk 20 index (CD20), lost around 3.3% of its value during the period. The net drop reduces BTC performance by 1.7% for the week, while the CD20 is down by almost 5%.
In the past 24 hours, more than $ 300 million in long positions have been liquidated on centralized cryptocurrency exchanges, while $ 38.8 million in shorts were liquidated on these platforms, according to Coinglass Data.
The decline seems to be part of a broader derisory decision among traders, because investors predict the impact of the reciprocal prices of President Donald Trump who should come into force on April 2. The move has strengthened after the basic data of personal consumer expenses (PCE) arrived warmer than expected on Friday.
This week, consumer confidence data fell more than expected, while the future expectations index has reached a low level of 12 years, and much lower than levels associated with an incoming recession.
This confluence of factors has seen investors reduce their exposure to risk assets and triggered a flight to security. The latest Stablecoin report by Coindesk Data shows that cryptocurrencies with golden back have benefited from the risk decision, as their market capitalization exceeded $ 1.4 billion in March.
Golden back cryptocurrencies are in fact the fight against the downward trend of the market. While the CD20 is down more than 3% in the last 24 -hour period, tokens, including Paxg and XAUT, increased by 0.7% to more than $ 3,100. These tokens have increased by more than 18% for the start of the year, while BTC is down 12.5% and the CD20 index by 28% so far this year.
