Bitcoin, Ethereum Rise. What’s Driving the Crypto Rebound.

Bitcoin is trading more than 10% below its record high hit in early October. (Dreamstime)

Key Points

• Bitcoin increased 2.9% to $111,090, rebounding from an overnight low of $106,207, but remains 12% below its all-time high.
• Other cryptocurrencies also rose, with Ether up 3%, XRP gaining 3.7%, and Solana increasing 2.2%.
• The crypto recovery occurred amid positive economic data from China and Japan, despite earlier market concerns over bad loans and trade tensions.

The recovery in Bitcoin and other cryptocurrencies picked up pace early Monday, following a week of big losses for digital assets.

Bitcoin was up 2.9% over the past 24 hours to $111,090, according to CoinDesk data. The price of the world’s largest crypto dropped as low as $106,207 overnight before rebounding. It still trades about 12% below its all-time high hit earlier this month.

Smaller cryptocurrencies gained too, with Ether rising 3%, XRP 3.7%, and Solana 2.2%.

Meanwhile, futures tracking the S&P 500 and Nasdaq rose 0.3% and 0.4%, respectively.

Cryptos’ move higher came amid cautiously optimistic data out of China and Japan, with the former posting third-quarter GDP growth of 4.8% Monday, in line with LSEG expectations. Meanwhile, Japan’s benchmark Nikkei 225 rose 3.4% Monday to close at a record high.

Investors sold off risk assets late last week following credit concerns after two regional banks said they’d been hit by bad loans. Escalating U.S.-China trade tensions and President Donald Trump’s threat of a further 100% tariffs on Chinese imports to the U.S. also hang over markets, including crypto assets.

Shares of cryptocurrencies exchanges Coinbase Global and Robinhood Markets also rose between 3% and 4% in premarket trading Monday, mirroring the price in crypto prices, even as a major outage at Amazon Web Services appeared to affect its operations. Barron’s has reached out to Amazon for comment.

Write to Elsa Ohlen at elsa.ohlen@barrons.com