Bitcoin and Other Crypto Prices Rise. It's All Linked to Dollar Weakness.

By Elsa OhlenBitcoin, 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. The price of the world's largest digital coin spiked late Sunday and has remained at levels above $87,000 since.XRP, the popular altcoin used on Ripple's payment platform, rose 3% to last trade at $2.13 and Ether climbed a similar amount to $1.645.Meanwhile, the dollar index fell to a three-year low amid comments President Donald Trump made about 'terminating' Federal Reserve chair Jerome Powell.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] 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.