Bitcoin Price Hit a Record $112,000 Amid the Tech Rally. Why It's Slipping Back. — Barrons.com

By George Glover

The price of Bitcoin topped $112,000 late Wednesday, then slid as investors took the record high as a signal to offload the crypto.

The world's largest token was up 2.4% to $111,366 over the past 24 hours, according to data from CoinDesk. It had notched a new high of $112,021 on Wednesday, per Dow Jones Market Data, but then gave up some of its gains overnight.

The crypto's gains came amid a broader market rally, with Nvidia and other tech names surging as investors shrugged off worries about U.S. tariffs. Digital assets tend to move in tandem with riskier growth stocks.

It wasn't immediately clear why Bitcoin dipped shortly after breaking through the $112,000 level, but it's possible some traders were just taking the opportunity to lock in profit after Wednesday's surge. It isn't unusual for the token to retreat after hitting a record.

Macroeconomic factors, U.S. fiscal policy, and inflows into crypto exchange-traded funds will likely help determine if Bitcoin can break back above the $112,000 level soon.

Other cryptos were also up over the past 24 hours. Ethereum jumped 6.6%, Solana gained 3.4%, and XRP added 4.6%, per data from the Kraken crypto exchange.

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

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