Crypto Market Rally Takes a Breather Amid Global Equities Surge

The crypto market has been experiencing a rollercoaster ride in recent days, with Bitcoin (BTC) reclaiming the $80,000 level for the first time since February. However, the rally paused on Thursday as global equities surged to new highs due to optimism about a US-Iran ceasefire and record corporate earnings.

Bitcoin's price retreated from its intraday high of $82,814 to $81,438 before dipping to $80,724 on Thursday. According to Alex Kuptsikevich, chief market analyst at FXPro, Bitcoin faces its next test at the 200-day moving average, around $83,300.

Other major cryptocurrencies such as Ethereum (ETH), Ripple (XRP), and Dogecoin (DOGE) also experienced a decline in their prices. However, some tokens like Solana (SOL), Cardano (ADA), and Toncoin (TON) showed strong weekly gains due to various announcements.