Bitcoin Rises. Why Crypto Investors Are Breathing a Sigh of Relief. — Barrons.com

George GloverBitcoin was rising Thursday after Federal Reserve chairman Jerome Powell's latest rate setting press conference reassured investors and sparked a rally in risk-on assets.The world's largest token ticked up 1% to $86,304 in early trading, according to data from CoinDesk. It's now up 7.7% over the past five days.Bitcoin was rising after the Fed held interest rates at their current level. After the policy decision was announced, Powell gave a press conference that reassured the market: He said that the central bank isn't in any hurry to slash borrowing costs, given that the economy still looks solid, and suggested that any inflation flare-up triggered by U.S. President Donald Trump's tariffs could end up being transitory. The stronger the U.S. economy, the more demand there tends to be for risk-on assets such as stocks and cryptocurrencies.In other crypto-related news, major exchange Kraken is nearing a deal to buy the U.S. retail trading platform NinjaTrader, according to a report in The Wall Street Journal that cited people familiar with the matter.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.