Bitcoin, Ethereum, XRP Jump After Crypto Crash. What’s Fueling the Rebound.

Bitcoin sold off sharply on Friday, meaning it’s now trading about 9% off its recent record high. (MARVIN RECINOS/AFP via Getty Images)

Key Points

• Bitcoin increased 3.7% to $115,460, while Ethereum, Solana, and XRP also saw gains of 9%, 8.2%, and 9.4% respectively.
• The rebound follows a selloff where Bitcoin experienced double-digit percentage losses, falling below $110,000.
• The market recovery occurred after President Trump softened his stance on China, impacting risk asset appetite.

Bitcoin and other cryptocurrencies were rallying on Monday, paring back some of their losses following President Donald Trump’s renewed tariff threats against China.

Bitcoin was up 3.7% to $115,460 over the past 24 hours, according to data from CoinDesk. It’s still trading about 9% off the record high it hit earlier this month.

Ethereum jumped 9%, Solana rose 8.2%, and XRP added 9.4% over the past 24 hours, per data from the Kraken crypto exchange.

The tokens plummeted on Friday, with Bitcoin racking up double-digit percentage losses and falling below $110,000 at one point. The selloff came after Trump threatened to hike tariffs on China, which likely sapped investors’ appetite for risk assets.

“Cryptocurrencies did little to stake their claim as a store of wealth last week,” Hargreaves Lansdown head of equity research Derren Nathan said. “At one point, Bitcoin bottomed out over 13% lower than the all-time highs seen last week, as traders scrambled to close positions.”

“Allegations of suspicious trading patterns highlight the risks of investing in instruments where there’s no intrinsic value and a lighter regulatory touch,” he added.

Monday’s rebound came after Trump softened his tone on China. “Don’t worry about China, it will all be fine!” he wrote in a Truth Social post on Sunday.

Crypto stocks were also climbing in Monday’s premarket. Shares in the digital-asset exchange Coinbase climbed 3.3%, while Bitcoin treasurer Strategy added 1.9%.

Write to George Glover at george.glover@dowjones.com