Bitcoin, XRP Bounce Back. How Cryptos Are Beating Stocks.

By Elsa OhlenBitcoin and other cryptocurrencies rebounded Tuesday but still haven't recovered fully from the drop prompted by President Donald Trump's sweeping tariffs and heightened global trade tensions.Bitcoin is up 6% to $79,555 over the last 24 hours, according to CoinDesk data. It hit a seven-day low of $74,781 in the very early hours of Monday but has gradually clawed back those losses over the past day.It's a similar story for altcoins, however the swings are bigger. XRP, the crypto used to facilitate and settle transactions on Ripple Labs' payment platform, is up 11% to $1.87, while Ether gained 7.3% to last trade at $1,567.Even if cryptos are moving in the same direction as markets, Bitcoin has fared better than stock during the past days' market turmoil.Bitcoin traded at about $85,000 before Trump's tariff announcement on "Liberation Day" April 2, and is thereby down 6.5% since. Meanwhile, the S&P 500 and Nasdaq have both fallen about 11%."Bitcoin is no longer just a cryptocurrency but a significant asset, it reacts sharply to broader economic news — including things like trade tariffs, which are typically tied to the traditional markets," B2 Venture's Arthur Azizov said.Futures tracking the S&P 500 and Nasdaq 100 were both up about 1.4% early Tuesday, mirroring gains in Europe's Stoxx 600 and Hong Kong's Hang Seng indexes.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.