Bitcoin Price Falls. Why the Circle IPO Success Isn't Boosting Cryptos. -- Barrons.com

Dow Jones

06-06

By Brian Swint

Bitcoin and other cryptocurrencies were trading lower Friday as they broadly tracked sentiment on the stock market.

Cryptos often trade like high-risk technology stocks, though sometimes they are also seen as a haven asset like gold.

For the past 24 hours, they've traded in line with the S&P 500--falling most of Thursday after President Donald Trump's call with Chinese leader Xi Jinping that didn't yield a tariffs breakthrough. Trump's public spat with billionaire Tesla CEO Elon Musk may have also weighed on the market. But by early Friday, they were starting to make a recovery.

Crypto got a boost as an asset class on Thursday as Circle Internet Group, which issues a coin tied to the value of the dollar, soared 168% on its first day of trading. However, that didn't seem to translate to cryptocurrencies prices Thursday, which instead followed the stock market.

The May report on nonfarm payrolls could have a big impact on cryptos and stocks when it is published later this morning.

Bitcoin was down 1.2% over the past 24 hours at $103,707, though up from the lows hit late Thursday. Ethereum, the second-biggest cryptocurrency, was down 5.5%, while XRP was 2.5% lower. Solana traded 2.7% down, and Cardano slipped 5.7%.

Write to Brian Swint at brian.swint@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.

(END) Dow Jones Newswires

June 06, 2025 05:49 ET (09:49 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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However, that didn't seem to translate to cryptocurrencies prices Thursday, which instead followed the stock market. \n</p>\n<p>\n     The May report on nonfarm payrolls could have a big impact on cryptos and stocks when it is published later this morning. \n</p>\n<p>\n     Bitcoin was down 1.2% over the past 24 hours at $103,707, though up from the lows hit late Thursday. Ethereum, the second-biggest cryptocurrency, was down 5.5%, while XRP was 2.5% lower. Solana traded 2.7% down, and Cardano slipped 5.7%. \n</p>\n<p>\n     Write to Brian Swint at brian.swint@barrons.com \n</p>\n<p>\n     This content was created by Barron's, which is operated by Dow Jones &amp; Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 06, 2025 05:49 ET (09:49 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Price Falls. 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Why the Circle IPO Success Isn't Boosting Cryptos. -- Barrons.com\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-06-06 17:49</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Brian Swint \n</p>\n<p>\n  Bitcoin and other cryptocurrencies were trading lower Friday as they broadly tracked sentiment on the stock market. \n</p>\n<p>\n     Cryptos often trade like high-risk technology stocks, though sometimes they are also seen as a haven asset like gold. \n</p>\n<p>\n     For the past 24 hours, they've traded in line with the S&amp;P 500--falling most of Thursday after President Donald Trump's call with Chinese leader Xi Jinping that didn't yield a tariffs breakthrough. Trump's public spat with billionaire Tesla CEO Elon Musk may have also weighed on the market. But by early Friday, they were starting to make a recovery. \n</p>\n<p>\n     Crypto got a boost as an asset class on Thursday as Circle Internet Group, which issues a coin tied to the value of the dollar, soared 168% on its first day of trading. However, that didn't seem to translate to cryptocurrencies prices Thursday, which instead followed the stock market. \n</p>\n<p>\n     The May report on nonfarm payrolls could have a big impact on cryptos and stocks when it is published later this morning. \n</p>\n<p>\n     Bitcoin was down 1.2% over the past 24 hours at $103,707, though up from the lows hit late Thursday. Ethereum, the second-biggest cryptocurrency, was down 5.5%, while XRP was 2.5% lower. Solana traded 2.7% down, and Cardano slipped 5.7%. \n</p>\n<p>\n     Write to Brian Swint at brian.swint@barrons.com \n</p>\n<p>\n     This content was created by Barron's, which is operated by Dow Jones &amp; Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 06, 2025 05:49 ET (09:49 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2541853714","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2541853714","pubTimestamp":1749203340,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Bitcoin and other cryptocurrencies were trading lower Friday as they broadly tracked sentiment on the stock market.Cryptos often trade like high-risk technology stocks, though sometimes they are also seen as a haven asset like gold.For the past 24 hours, they've traded in line with the S&P 500--falling most of Thursday after President Donald Trump's call with Chinese leader Xi Jinping that didn't yield a tariffs breakthrough. Trump's public spat with billionaire Tesla CEO Elon Musk may have also weighed on the market. But by early Friday, they were starting to make a recovery.Crypto got a boost as an asset class on Thursday as Circle Internet Group, which issues a coin tied to the value of the dollar, soared 168% on its first day of trading. 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Trump's public spat with billionaire Tesla CEO Elon Musk may have also weighed on the market. But by early Friday, they were starting to make a recovery. \n\n\n     Crypto got a boost as an asset class on Thursday as Circle Internet Group, which issues a coin tied to the value of the dollar, soared 168% on its first day of trading. However, that didn't seem to translate to cryptocurrencies prices Thursday, which instead followed the stock market. \n\n\n     The May report on nonfarm payrolls could have a big impact on cryptos and stocks when it is published later this morning. \n\n\n     Bitcoin was down 1.2% over the past 24 hours at $103,707, though up from the lows hit late Thursday. Ethereum, the second-biggest cryptocurrency, was down 5.5%, while XRP was 2.5% lower. Solana traded 2.7% down, and Cardano slipped 5.7%. \n\n\n     Write to Brian Swint at brian.swint@barrons.com \n\n\n     This content was created by Barron's, which is operated by Dow Jones & Co. 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