By Callum Keown

Bitcoin, XRP, and other cryptocurrencies edged lower Friday as the recent recovery stalled with stock markets closed for the Good Friday holiday.

The moves in cryptocurrencies have closely followed stocks recently, reacting to global trade developments amid President Donald Trump's tariffs policy. In the absence of any catalysts, the rebound took a pause.

Stock markets around the world may be closed but cryptocurrency trading is always open. Bitcoin, the world's largest digital asset, was trading at $84,582 early in the day, flat over the past 24 hours but below the $85,000 level it reached late Thursday. The cryptocurrency recovered from below $82,000 last week and is up 2.8% so far in April.

XRP, the popular altcoin used to settle transactions on Ripple Labs' payments platform, fell 1.4% to $2.07. Ether, the second-largest crypto, slipped 0.5% to $1,586.

Uncertainty over U.S. trade policy and the developing tensions with China are also keeping crypto investors on edge.

"Bitcoin and cryptocurrency gains are emerging amid signs of a possible de-escalation in the trade conflict between the U.S. and other countries, with negotiations with Japan beginning," XS.com analyst Samer Hasn said Thursday.

However, he added that the comeback could be short-lived. "Conversely, this recovery in Bitcoin comes amid underlying signs of a possible further escalation in the trade conflict with China, coupled with weakening risk appetite among investors and traders."

Write to Callum Keown at callum.keown@dowjones.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.

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April 18, 2025 07:37 ET (11:37 GMT)

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