Bitcoin, Ethereum, XRP Fall. Why Cryptos Are Struggling Today. — Barrons.com
By Elsa OhlenThe price of Bitcoin slipped further from its record high hit earlier this week.The world's largest cryptocurrency was down 1% over the past 24 hours to $121,830 on Thursday, according to CoinDesk data, and is now up just about 1% over the past seven days.Investors taking profit is one likely reason for sliding prices. Another is the recent strengthening of the U.S. dollar, up about 1% against a basket of other currencies over the past week.Among smaller digital coins, Ether fell 3.6% over the last 24 hours, XRP dropped 2.4% and Solana slid 0.3%.Meanwhile, S&P 500 and Nasdaq futures traded largely flat.Falling prices also affected crypto-related stocks. Coinbase Global, the largest crypto exchange in the U.S., fell 1.5% in premarket trading, while Bitcoin-buyer Strategy, formerly MicroStrategy, dropped 1.6%.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.