Market News

Bitcoin, XRP and other cryptocurrencies rose early Monday, contrasting with major U.S. indexes, helped by a falling dollar.

Bitcoin BTCUSD+2.64% is up 3.1% to $87,424 over the last 24 hours, according to CoinDesk data. The price of the world’s largest digital coin spiked late Sunday and has remained at levels above $87,000 since.

XRP XRPUSD+1.95%, the popular altcoin used on Ripple’s payment platform, rose 3% to last trade at $2.13 and Ether 

ETHUSD+2.20% climbed a similar amount to $1.645.

Meanwhile, the dollar index DXY-1.24% fell to a three-year low amid comments President Donald Trump made about ‘terminating’ Federal Reserve chair Jerome Powell.

SECTORFOCUS BLOG

 Bitcoin, XRP and other cryptocurrencies rose early Monday, contrasting with major U.S. indexes, helped by a falling dollar. Bitcoin is up 3.1% to $87,424 over the last 24 hours, according to CoinDesk data.

Cryptocurrencies rallied at the end of 2024 amid hopes that Trump’s second presidency would bring change for the crypto landscape and boost prices. Yet, Bitcoin is down about 15% since inauguration day.

Write to Elsa Ohlen at [email protected]