Crypto recoups earlier losses from trade war sell-off, bitcoin reclaims $85,000

Ripple-related XRP and Cardano's ADA , two of the smaller cap coins mentioned in Trump's surprise announcement, rose 2% and 5%, respectively, reversing earlier losses. Solana's SOL token was down 2% but trading off its lows. The flagship cryptocurrency was last higher by less than 1% at $85,950.90, according to Coin Metrics, and off its all-time high by 21%. Ether was slightly higher, trading at about $2,100 after earlier dropping to a November 2023 low. Crypto losses subsided Tuesday afternoon, with the price of bitcoin returning to the $85,000 level – where it traded before President Donald Trump's weekend announcement of a U.S. crypto reserve sent it soaring. Even stocks tied to the price of bitcoin clawed their way back into the green. Coinbase was last higher by 2%, while the bitcoin proxy stock Strategy , formerly known as MicroStrategy, climbed 6%. Pure play bitcoin miners were all higher, with Mara Holdings jumping 4%. Robinhood remained in the red. Risk assets including cr ... Read full article.