By Elsa Ohlen
Bitcoin, XRP and other cryptocurrencies were mixed early Friday as traders assess the market turmoil caused by President Donald Trump's global tariffs and subsequent pause to the majority of the levies.
Bitcoin is down 0.9% to $80,835 over the past 24 hours, according to CoinDesk data.
Ether, the world's second-largest digital coin by market value, fell 3% to $1,547, while Solana and Dogecoin all fell modestly. XRP rose 0.5% to last trade at just under $2, according to CoinDesk.
Most major cryptos rose significantly earlier this week after Trump announced a 90-day pause on the bulk of reciprocal tariffs. However, some of those gains have been given back as the market assesses escalating trade tensions between the U.S. and China.
"The cryptocurrency market cap has stabilized near a key level since the start of the week and went up steadily on the back of tariff news following the rise in equities," FxPro analyst Alex Kuptsikevich said, noting the upswing for cryptos was about half that of equities.
"The recent [Bitcoin] growth spurt has lifted the price above $80K, which can be considered a comfort zone. However, the first cryptocurrency approached the upper boundary of the downtrend, and the main test of the two-month trend is just beginning," Kuptsikevich added.
Futures tracking the S&P 500 and Nasdaq 100 indexes were falling modestly early Friday.
Write to Elsa Ohlen at elsa.ohlen@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
April 11, 2025 05:15 ET (09:15 GMT)
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