Bitcoin Pauses, XRP Drops: Could This Spark a New Crypto Boom?

Bitcoin paused briefly early Tuesday following gradual yet consistent increases over the last several days.

The globe's biggest cryptocurrency remained relatively unchanged over the last 24 hours, trading at $94,918 as per CoinDesk data. Currently, the value of Bitcoin stands just above where it began the year.

In another part of the market, Ether increased by 1% to reach $1,823, whereas Solana fell by 1.6% to stand at $149.

XRP, which is utilized for transactions on Ripple’s payment system and serves as the primary currency of the XRP Ledger, fell by 2 percent following this development. big gains Monday Futures following the S&P 500 index gained 0.2%.

Cryptos typically respond to macroeconomic shifts , and prices often decrease during periods of increased economic uncertainty or instability, with the opposite effect occurring as well. Over the last few months, the Trump administration’s demands for significant tariffs on multiple trade partners have unsettled both equity and cryptocurrency markets.

Throughout most of the recent market turmoil, Bitcoin performed better than stocks, a fact attributed by numerous cryptocurrency analysts to its nature. transnational nature. It also benefited from consistent investments into Bitcoin exchange-traded funds (ETFs).

Last week, crypto funds saw an influx of $3.3 billion, marking the highest amount this year, as reported by J.P. Morgan.

Send correspondence to Elsa Ohlen at elsa.ohlen@barrons.com