Bitcoin and Ether Pull Back as Iran Ceasefire Bets Lift Equities
Bitcoin (BTC) held near $81,000 on Thursday while Ethereum (ETH) slipped below $2,330 and Dogecoin (DOGE) shed 4% in 24 hours. Hopes for a U.S.-Iran ceasefire deal pushed global equity indexes to fresh highs, drawing capital away from cryptocurrency.
The move broke a multi-day upward run for BTC that had taken it to three-month highs earlier in the week.
Bitcoin and Ether Pullback Deepens as Stocks Surge
Crypto major coins took a broad pause Thursday after a strong run. According to CoinDesk’s markets desk, BTC held around $81,000 while ETH dropped under $2,330.
Dogecoin posted the sharpest decline among large-cap tokens at 4%.
Equity benchmarks in Europe and Asia climbed as traders priced in progress toward a U.S.-Iran nuclear framework agreement. Japan’s Nikkei 225 surged after returning from the Golden Week holiday, according to Reuters.
That broad risk-on move cut safe-haven demand across precious metals and digital assets alike.
Optimism (OP) also dipped alongside other Ethereum ecosystem tokens, reflecting a sector-wide pause rather than a protocol-specific catalyst.
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How We Got Here
Bitcoin’s rally into the $81,000 range had been building since late April, supported by strong spot ETF inflows and a broad recovery in risk appetite. A Reuters morning markets note published Thursday said Japan’s Nikkei returned from holiday and “jumped onto the scorching AI rally,” with technology stocks leading global markets higher.
The ceasefire optimism accelerated that equity rotation, compressing the premium investors had placed on hard-asset alternatives including BTC.
Spot Bitcoin ETFs had recorded a combined $532 million in inflows on Wednesday, one of the strongest single-day figures since mid-March. That demand cushioned the BTC pullback, keeping the price well above the $78,500-$80,000 support band that traders have watched closely.
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What Comes Next
The key variable for the next 24 hours is whether ceasefire talks produce a formal agreement or stall.
A confirmed deal would likely extend the equity rally and maintain pressure on BTC in the near term. A breakdown in negotiations could reverse the risk-on bid and push safe-haven flows back toward digital assets.
Traders will also watch the U.S.
Federal Reserve’s scheduled policy commentary Thursday for any signals on interest-rate direction. A dovish tone would tend to support BTC even in a risk-rotation environment.
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