Why did Dogecoin and Bitcoin pull back despite recent crypto gains?

Crypto markets cooled as investors shifted money into global equities following optimism around a possible US-Iran ceasefire. Traders also appeared to take profits after Bitcoin and several altcoins posted strong weekly rallies.

How much did Bitcoin and Dogecoin fall?

Bitcoin slipped 0.7% to around $80,945 over 24 hours, while Dogecoin dropped 4.4% to roughly $0.1106. Ether also weakened by 2% during the session.

Why are global stock markets rallying right now?

Equity markets surged after reports suggested the US and Iran were discussing proposals to end their nearly 10-week conflict. Investors interpreted the news as reducing geopolitical risk and improving the outlook for global growth.

What is Bitcoin’s next major technical level?

FxPro analyst Alex Kuptsikevich said Bitcoin’s next key resistance sits near the 200-day moving average around $83,300. Traders often watch this indicator closely because it can signal longer-term trend direction.

What does the 200-day moving average mean for Bitcoin traders?

The 200-day moving average smooths out long-term price trends and is widely used by technical analysts. A sustained move above it is often viewed as a bullish signal for market momentum.

Why did Dogecoin fall more sharply than Bitcoin?

Dogecoin tends to experience larger swings because it is more speculative than Bitcoin and more sensitive to shifts in trader sentiment. Profit-taking after recent gains likely amplified the decline.

Which cryptocurrencies held up best during the pullback?

XRP and BNB remained relatively stable during the broader market decline, while Solana continued outperforming with weekly gains exceeding 6%. Investors continue favouring networks tied to trading activity and stablecoin growth.

How is stablecoin liquidity affecting the crypto market?

Analysts noted that Tether’s market capitalisation increased by $5.9 billion over the past 60 days. Rising stablecoin supply is often seen as a sign of fresh liquidity entering the crypto market.

Dogecoin drops as crypto rally cools amid equity surge

Written by Liezl GambePublished May. 7 2026

Bitcoin and major cryptocurrencies retreated during Asian trading on Thursday as investor appetite shifted towards global equities amid growing optimism over a potential ceasefire agreement between the United States and Iran.

Bitcoin traded at $80,945, down 0.7% over the past 24 hours but still holding weekly gains of nearly 7%, while Dogecoin fell 4.4% to $0.1106 after strong gains earlier this month.

Ether also weakened by 2% to $2,326, while XRP and BNB remained comparatively stable and Solana extended its weekly rally with gains of more than 6%.

The crypto pullback came as global stock markets surged to fresh record highs after reports suggested Washington and Tehran were discussing proposals to end the nearly 10-week conflict.

MSCI’s global equity index advanced 0.3% while Asian equities jumped 1.9% to record levels, with Japan’s Nikkei 225 reaching an intraday high and South Korea overtaking Canada as the world’s seventh-largest equity market by value.

FxPro chief market analyst Alex Kuptsikevich said Bitcoin’s next technical resistance level sits near the 200-day moving average around $83,300.

“A firm consolidation above this level would be a further sign of bullish dominance,”

Kuptsikevich said.

He added that short-term profit-taking could emerge as Bitcoin approaches the resistance zone after holding above its 50-day moving average over the past month.

Meanwhile, analysts noted that broader crypto market liquidity conditions continue improving after Tether’s market capitalisation expanded by $5.9 billion over the last 60 days, reversing earlier stablecoin outflows.

Institutional adoption also continued developing this week after Morgan Stanley signalled that US banks may eventually gain approval to hold Bitcoin directly on balance sheets while Western Union launched its USDPT stablecoin on the Solana blockchain.

At the time of reporting, Bitcoin price was $81,397.72.