Analysis: Gold-backed cryptocurrencies shrug off market drop, PAXG and XAUT both gain

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According to ChainCatcher, citing CoinDesk, the cryptocurrency market experienced a decline today, with liquidations exceeding $300 million in the past 24 hours, and BTC falling to the $82,000 range, possibly due to investors reducing exposure to risky assets amid concerns about macroeconomic policy changes in April.

However, cryptocurrency backed by gold is bucking the bearish market trend, with PAXG rising 0.7% and XAUT increasing by approximately 1% in the past 24 hours.

PAXG
3.42%
XAUt
3.7%
Source
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