Cryptocurrencies rise Friday, bucking broader market meltdown

Bitcoin rose on Friday after China retaliated against President Donald Trump's tariffs, while stocks continued to crater following their worst day since 2020. The price of the flagship cryptocurrency was last higher by 2.6% at $84,007.88, according to Coin Metrics. Most of the major cryptocurrencies were also in the green Friday. Solana and dogecoin jumped 5% and 7%, respectively. Crypto-related stocks fell again, however, with Coinbase down about 6%. Meanwhile, spot gold fell 2.9% to $3,024.01 an ounce, while U.S. gold futures were down 2.8% at $3,044.50. Investors were rattled for a second day after China's commerce ministry on Friday said the country will impose a 34% levy on all U.S. products, matching the tariff Trump revealed Wednesday on Chinese goods coming into the U.S. "Tariffs do affect the cost for U.S. builders, where inflation and higher goods cost make all this more expensive, presumably encouraging more capital flows and investment to Asia," said James Davies, CEO a ... Read full article.