Dogecoin and Bitcoin pull back after equities rise on reports of a potential Iran-Israel ceasefire agreement.
Dogecoin fell 4% and Bitcoin’s rally stalled as optimism over a possible Iran-Israel ceasefire lifted global equities. The shift in sentiment reduced demand for safe-haven assets, including cryptocurrencies, which had previously benefited from geopolitical tensions.
Prior to the retreat, Bitcoin had climbed nearly 10% over the past week, while Dogecoin surged on speculative trading. The pause in crypto gains aligns with broader market trends, where risk appetite improved following reports of de-escalation in the Middle East.
Equities in Europe and Asia advanced, with futures pointing to a higher open in U.S. markets. The correlation between crypto and traditional risk assets remains elevated amid shifting macroeconomic expectations.