By George Glover
The prices of Bitcoin and other digital assets were sliding on Thursday, even as stocks looked set to extend their record-breaking rally on hopes that the U.S. and Iran could agree a peace deal soon.
Bitcoin was down 0.6% over the past 24 hours to $81,453. The world's largest cryptocurrency is down 7% for the year and is trading 55% below the record high it hit in October.
Other tokens were also falling. Ethereum slipped 1.5% and XRP declined 1.4% over the past 24 hours, per Kraken.
Those losses are disappointing in the context of Thursday's broader market rally, during which the S&P 500 and Nasdaq Composite hit record closing highs after President Donald Trump said a peace deal with Iran was "very possible."
One problem for cryptos is that liquidity has dried up, because other risk-on assets have offered sizable returns in recent weeks.
Strong artificial-intelligence earnings have driven stocks higher, but that doesn't mean much for Bitcoin and its peers, which rely on sentiment rather than fundamentals.
Unless digital assets can find another catalyst, this slump is likely to drag on.
Write to George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
May 07, 2026 05:10 ET (09:10 GMT)
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