Altcoins Slide, Gold Shines as Trump Tariffs Spur Flight to Safety
By Francisco Rodrigues (All times ET unless indicated otherwise)
The crypto market is extending yesterday’s slide as investors anticipate the impact of President Donald Trump’s reciprocal tariffs, set to come into effect on April 2, and key macroeconomic data due later Friday.
Bitcoin (BTC) has lost 2.5% in the past 24 hours, which seems pretty staid when compared with an almost 6% in slide in ether (ETH), 5.5% in XRP and 7% in dogecoin (DOGE). The broader CoinDesk 20 Index (CD20) dropped 4.65%. Gold, in contrast, hit new highs.
The growing exposure to gold has benefited tokens backed by the precious metal, which CoinDesk Data’s latest stablecoin report shows climbed to a $1.4 billion market capitalization in March.
It seems clear…
