Bitcoin, XRP, and Other Cryptos Rise. Why an Analyst Likes the 'Risk/Reward' of Buying Now.

By Elsa OhlenThe price of Bitcoin and smaller cryptocurrencies were higher at the start of the week, rising alongside the stock market. The S&P 500 was up 1.5% after the administration pulled back on the tariff rate for electronics and other tech goods.Bitcoin was trading 1.7% higher at $85,533 over the past 24 hours, according to CoinDesk data. It held steady over the weekend, ranging from about $83,000 and $85,000, on the tariff news.Ether and XRP, the world's second and fourth-largest cryptos by market value, were up 5.5% and 0.9%, respectively."With Trump's 'on-again-off-again' tariff threats, the market is starting to feel 'headline fatigue,' and realizing that he isn't going to destroy the wealth of his support base in the long run. The result is that investors are comfortable accumulating BTC [Bitcoin] above the $73k technical support," wrote John Glover, chief investment officer of Ledn, a digital asset financial services company.Glover continues to watch for a level below $73,000 as it could open up a rapid downward move to $62,500. The upside target, however, is about $133,000, "so I really like the risk/reward for those buying BTC in the mid-$70k's," Glover wrote.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.