Bitcoin, XRP Rise After Another Slump. Why Cryptos Are Under Pressure.

Bitcoin is still up 17% this year despite a sharp selloff in recent weeks. (Dreamstime)

Key Points

• Bitcoin, XRP, and other cryptocurrencies increased early Thursday, recovering from a slump earlier in the week.
• Bitcoin rose above $110,000 after falling below $107,000 on Tuesday, currently up 1.3% over 24 hours to $109,409.
• The recent crypto softness is seen as consolidation within a constructive year, with Bitcoin up 17% in 2025.

Bitcoin , XRP, and other cryptocurrencies rose early Thursday as digital assets looked to recover from another slump earlier in the week.

The price of the world’s largest crypto jumped above $110,000 in early trading, having slipped below $107,000 on Tuesday. Bitcoin has fallen sharply since setting a record high above $126,000 less than three weeks ago. It was up 1.3% over the past 24 hours to $109,409, according to data from CoinDesk.

Ethereum , the second biggest crypto asset, was up 1.2% at $3,886, while popular altcoin XRP climbed 1.3% to $2.42.

“Most of the immediate pressure on crypto has been driven by a rebound in U.S. Treasury yields and a firmer dollar, which tend to weigh on assets that are sensitive to funding and discount-rate regimes,” LMAX market strategist Joel Kruger said.

The yield on the 10-year Treasury note climbed to 3.992% early Thursday, up from around 3.950% on Tuesday.

“In our view, the recent softness looks more like a period of consolidation within what has already been a highly constructive year for digital assets,” he added.

Despite the sharp selloff in October, Bitcoin is up 17% in 2025, Ether has climbed 15%, and XRP has gained 16% this year.

Write to Callum Keown at callum.keown@dowjones.com