Crypto Market Takes Brief Reprieve as Global Equities Soar

The crypto market experienced a brief slowdown on Thursday, with many major cryptocurrencies experiencing a slight decline in value.

Bitcoin traded at $80,945, down 0.7% over 24 hours but still up 6.9% on the week. Ether was the major laggard, dropping 2% to $2,326 and taking its 30-day return into double digits.

The pullback came as global stock markets reached fresh records due to hopes of a US-Iran ceasefire. The MSCI All Country World Index advanced 0.3% and MSCI's Asia gauge jumped 1.9% to a record, with Japan's Nikkei 225 hitting an intraday high.

Analysts predict that Bitcoin's next test lies at the 200-day moving average around $83,300. A firm consolidation above this level would be a further sign of bullish dominance, according to FxPro chief market analyst Alex Kuptsikevich.