Bitcoin, XRP Prices Rise After Crypto Bill Talks. Why It's Not Enough for a Rally. — Barrons.com
-
By Alex Kozul-Wright
The price of Bitcoin was rising early Friday after a multiday slide. There's some cautious optimism about crypto legislation.
Bitcoin was trading at $68,164 early in the day, up 2% over the past 24 hours, according to CoinDesk data. Elsewhere, Ethereum was up 0.2%, 0.6% while popular altcoin XRP rose 0.5%.
Crypto prices may have been responding to policy news — there were tentative signs of progress on a digital asset bill known as the Clarity Act.
The White House held a meeting Thursday between groups representing crypto firms and banks. While the talks didn't end in an agreement, they did yield some positive reactions.
"The dialogue was constructive and the tone cooperative. More to come," Coinbase's Chief Legal Officer Paul Grewal said in a post on X after the meeting.
Digital asset investors certainly need more. The Clarity Act is a top policy priority for the crypto industry. If Washington succeeds completing a regulatory framework for digital assets, Bitcoin — the world's biggest cryptocurrency — would be poised for increased market activity.
Focus now turns to Friday's personal consumption expenditures report, where a downward print could boost expectations of a future Fed rate cut.
Indeed, if the economy shows fresh signs of slowing, that could steer investors toward riskier assets such as cryptocurrencies, potentially lifting their prices.
On the other hand, geopolitical tensions between the U.S. and Iran are keeping risk appetite in check. So cryptos may be stuck in limbo for now.
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_DN20260220002968:0/