Bitcoin Price Rises. Here's What's Giving the Crypto a Boost. — Barrons.com

By George GloverBitcoin was rising Wednesday, as talk of a U.S. tariff climbdown sparked a broader market rally.The token climbed 1.9% to $88,465 in early trading, according to data from the crypto exchange Kraken. It's now trading 23% below the record high of more than $109,000 that it reached in January.It has been a wild start to the week for digital assets. Bitcoin and other tokens surged Sunday after President Donald Trump said he would create a strategic reserve of cryptos, then tanked Monday in the run-up to tariffs on Canada and Mexico taking effect.Late on Tuesday, Commerce Secretary Howard Lutnick gave investors fretting about those levies a reason to feel cheerful — he said that Trump wants to "work something out" with the U.S.'s neighbors. That's likely what was boosting Bitcoin, given that the crypto tends to trade in tandem with risk-on assets like stocks, rather than safer investments like bonds or gold.Write to George Glover 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.