Bitcoin Price Falls. Why the Crypto's Tariff Boost Is Fading. — Barrons.com

By Elsa OhlenBitcoin pulled back early Tuesday while other cryptocurrencies were mixed as macro events continued to affect the price of digital assets.Bitcoin is down 1.6% to $102,771 over the last 24 hours, according to CoinDesk data. It briefly rose above $105,000 in the early hours of Monday as the U.S. and China agreed to a 90-day pause on most tariffs on each other's goods, but the crypto quickly gave back those gains.Ether and Solana fell 3.4% and 2.5%, respectively, while Binance Coin dropped 1.7%. XRP rose 3.4%.Most altcoins' relatively small losses Tuesday aren't surprising given the big gains seen Monday. Profit-taking often follows large price jumps. The S&P 500 closed 3.3% higher Monday and futures tracking the index were down 0.3% early Tuesday.Bitcoin, however, only held on to its trade deal gains for just about an hour on Monday before reversing. It appears the market has a bigger appetite for stocks and altcoins right now, and Bitcoin might not be perceived as the risky asset it once was.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.