CoinDesk
Bitcoin slipped below $81,000 on Thursday and ether dropped under $2,330 as the crypto rally paused, even as global equities pushed to fresh records on optimism over a potential US-Iran cease-fire. Dogecoin led majors lower with a 4% slide, while XRP held around $1.41 and BNB added 1.3% to $643; Solana extended a 6.1% weekly gain to $88.06. The MSCI All Country World Index added 0.3% and MSCI's Asia gauge jumped 1.9% to a record, with Japan's Nikkei 225 hitting an intraday high, South Korea overtaking Canada as the world's seventh-largest equity market, and Wall Street closing at all-time highs Wednesday after roughly 80% of S&P 500 companies beat earnings estimates.
Why it matters
The pullback in crypto came against a backdrop of strong risk appetite elsewhere: Brent crude held under $102 a barrel on speculation a US-Iran deal would reopen oil shipments through the Strait of Hormuz, while gold extended a three-day surge to $4,700 an ounce on Fed rate-cut bets and easing inflation expectations. FxPro chief market analyst Alex Kuptsikevich framed bitcoin's next test as the 200-day moving average near $83,300, writing that a firm consolidation above that level would be a further sign of bullish dominance — the first such signal came a month ago when BTC held above its 50-day moving average. He flagged that short-term profit-taking is likely as bitcoin approaches $83,000.
Market impact
The structural backdrop continues to support the move. Tether's market cap has grown by $5.9 billion over the past 60 days, per analyst Darkfost, reversing a $2 billion monthly outflow trend that ran through early 2026 — a sign of fresh capital entering the market. Morgan Stanley signalled this week that US banks may eventually hold bitcoin on their balance sheets, with the bank already running a bitcoin-based ETP and planning spot crypto trading on its wealth platform later this year. Western Union launched its own stablecoin, USDPT, on Solana to bypass interbank settlement delays, while BitMine added more than 100,000 ETH for the third straight week, taking its ether reserves to 5.18 million ETH worth roughly $13 billion, or 4.29% of total supply.
Frequently asked questions
-
Why did crypto pull back on Thursday while equities rallied?
Crypto majors paused after a strong run as global equities pushed to fresh records on optimism over a potential US-Iran cease-fire. Bitcoin slipped below $81,000, ether under $2,330, and dogecoin fell 4%, though weekly gains remained solid.
-
What level are analysts watching for bitcoin's next move?
FxPro's Alex Kuptsikevich highlighted bitcoin's 200-day moving average near $83,300 as a key bullish test, writing that a firm consolidation above that level would be a further sign of bullish dominance. He also flagged that short-term profit-taking is likely as BTC approaches $83,000.
-
How did equities, oil, and gold react to the Iran cease-fire news?
The MSCI All Country World Index added 0.3% and MSCI's Asia gauge jumped 1.9% to a record, with Wall Street closing at all-time highs Wednesday. Brent crude held under $102 a barrel on Strait of Hormuz reopening speculation, and gold extended a three-day surge to $4,700 an ounce on Fed rate-cut bets.
-
What does the stablecoin data signal about crypto flows?
Analyst Darkfost noted Tether's market cap grew by $5.9 billion over the past 60 days, reversing a $2 billion monthly outflow trend that ran through early 2026. Such issuances are considered a source of new capital entering the crypto market.
-
What institutional developments supported the structural backdrop?
Morgan Stanley said US banks may eventually hold bitcoin on their balance sheets, with spot crypto trading planned on its wealth platform later this year. Western Union launched its USDPT stablecoin on Solana, and BitMine added more than 100,000 ETH for the third straight week, taking reserves to 5.18 million ETH.
Crypto News
Benjamin Cowen
Crypto Capital Venture
WatcherGuru
WuBlockchain
Lookonchain
CoinTelegraph