Bitcoin, XRP Tank. Cryptos Caught in Global Market Panic.

By Elsa OhlenLike stocks, the world's foremost cryptocurrency, Bitcoin, was deep in the red early Monday as global markets deepened last week's selloff prompted by the Trump administration's tariffs.Bitcoin fell 9.3% to $75,318 over the past 24 hours, according to CoinDesk data.Altcoins fared worse. XRP, the digital coin used to settle and facilitate transactions on Ripple Labs digital payments platform, was down 19% to $1.70 while Ether fell by a similar amount to $1,462."Bitcoin is holding up better than altcoins because its market structure has fundamentally changed post-ETF, with demand now coming from retirement accounts, macro funds, and corporate treasuries like MSTR and GME," Eric Chen, CEO of Injective, a finance software firm, said.Despite losses over the past 24 hours, Bitcoin is holding up better than many stocks considering it is historically a highly volatile asset. It's down from about $83,000 a week ago, or about 10%. Meanwhile, the benchmark S&P 500 fell 9% and Nasdaq Composite also dropped 10% last week, and futures tracking the indexes indicated large further losses as Monday progresses.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.