Bitcoin Price Falls. Why the Crypto Rally Is Fading. — Barrons.com
By Elsa OhlenBitcoin and other cryptocurrencies fell early Thursday as the crypto rally lost momentum.Bitcoin was down 1.9% over the last 24 hours to $101,788 early in the day, according to CoinDesk data.Ether, XRP and Solana — the world's second, fourth and sixth largest crypto based on market value — fell between 2.3% and 5% while the S&P 500 was set to open lower.Bitcoin has risen about 8% over the past 10 days and briefly hit $105,500 over the weekend but quickly pared gains, which some analysts attribute to profit-taking.Markets are turning more cautious ahead of U.S. producer price index (PPI)figures, said Terence Hove at multi-asset broker Exness. "Concerns over a potential rebound in inflation could weigh on risk appetite."April PPI numbers are scheduled to be released Thursday.Easing trade tensions between the U.S. and China have fueled a rally in both equities and cryptos, after Treasury Secretary Scott Bessent announced Monday that the countries would pause most of the tariffs on each other's goods for 90 days.Crypto exchange Coinbase's inclusion in the S&P 500 before markets open on May 19 is expected to boost the sector further.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.