Bitcoin Surges Past $70,000. Ethereum, XRP Rise as Cryptos Get a Trump Boost. — Barrons.com
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By Alex Kozul-Wright
The price of Bitcoin surged past $70,000 early Tuesday, following comments from U.S. President Donald Trump about a possible resolution to the war in Iran.
The world's largest cryptocurrency climbed 4.2% to $70,388 over the past 24 hours, according to CoinDesk data. During that period, it hit a high of $70,562. Ethereum, the second largest crypto, rose by 3.2% — snapping a four day losing streak — while popular alt-coin XRP was also up, by 2.9%.
Crypto-related stocks also got a lift. Robinhood, a digital asset brokerage, rose 2.4% in premarket trading, while Strategy — the largest corporate holder of Bitcoin — rose 3.1%.
The lift in prices came after Trump signaled to CBS News reporter Weijia Jiang that the war in Iran is "very complete, pretty much," The Wall Street Journal reported. "They have no navy, no communications, they've got no Air Force," Jiang quoted Trump as saying in a post on X.
Those comments "helped ease market fears of a prolonged conflict that would turn into a more sustained energy shock," according to Deutsche Bank strategist Jim Reid. Indeed, the S&P 500 rose 0.8% on Tuesday. Stabilizing market conditions would be good news for risk-on assets such as Bitcoin.
Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com
This 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.
source: https://www.tradingview.com/news/DJN_DN20260310002389:0/
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