Bitcoin Tumbles Below $82K — Is Macro Pressure to Blame for Today’s Crypto Sell-Off?

Crypto Markets Tumble as Macro Jitters Spark $300M in Liquidations

Volatility returned to crypto markets on Friday as investors backed away from risk, triggering over $300 million in liquidations ahead of anticipated U.S. policy shifts and worrying economic signals.

Bitcoin (BTC) fell around 3% over the past 24 hours, while top altcoins like XRP, BNB, and Solana (SOL) dropped between 4% and 5%. The CoinDesk 20 Index (CD20), which tracks the broader crypto sector, slid 3.3%, pushing its weekly loss to nearly 5%.

The pullback led to significant forced selling across major exchanges. Data from CoinGlass shows that long positions took the brunt of the damage, with $300 million liquidated, compared to $38.8 million in short positions.

Market sentiment appears rattled by a combination of factors, most notably the upcoming implementation of President Donald Trump’s tariff measures set for April 2. These trade policies have added uncertainty to an already cautious macro environment. Further compounding the anxiety was Friday’s Personal Consumption Expenditures (PCE) report, which showed core inflation climbing more than expected — stoking fears the Federal Reserve could remain hawkish.

Earlier this week, consumer confidence readings added to the gloom. A sharp dip in future expectations — now at a 12-year low — is historically consistent with pre-recession conditions.

In response, traders have sought shelter in traditionally safer assets. According to CoinDesk’s latest stablecoin market report, gold-backed crypto tokens have emerged as a haven. Their combined market cap topped $1.4 billion in March, defying the broader downtrend.

While most digital assets sank, gold-pegged tokens like Paxos Gold (PAXG) and Tether Gold (XAUT) saw modest gains of 0.7%, currently trading above $3,100. These assets are up more than 18% year-to-date, a stark contrast to Bitcoin’s 12.5% decline and the 28% drop in the CD20 index.