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…