Crypto Price Today: Dogecoin Drops 4%, Cardano Slips and BTC Rally Pauses as Trump Confirms Iran Ceasefire Holds

The Crypto price today remained under pressure as investors reacted to renewed geopolitical concerns and weaker institutional demand. Bitcoin price is moving back below the $80k major support level, despite a recent move higher. 

Dogecoin had the biggest drops in meme coins as well as other key assets like Cardano saw declines throughout Friday trading.

Crypto Price Rally Pauses as BTC Falls $80k Amid ETF Outflows

Bitcoin price failed to break the resistance zone of $82,800, causing the crypto price market to lose steam. The cryptocurrency fell below the significant $80,300 whale cost basis in the latest session. BTC price is closing in at almost $79,986 with a 0.78% drop in the last 24 hours.

Market analysts attributed the fall to growing geopolitical risks and reduced inflows in institutions. 

Spot bitcoin ETFs were another pressure factor, as they saw $277.5 million in net outflows on May 8. The withdrawals were led by major funds managed by Fidelity and BlackRock, and were a culmination of five days of inflows.

The overall cryptocurrency market also lost 0.84%, pushing the market’s value to nearly $2.66 trillion.

A continued ETF outflows could trigger further weakness for Bitcoin. Bitcoin is likely to move towards the $78,500-$76,000 support area in the near future if a downward trend persists.

Trump Says Iran Ceasefire Still Holds After Fresh US-Iran Military Exchange

In response to the latest military confrontation between the United States and Iran, financial markets responded with caution globally. US military forces reportedly attacked Iranian military installations in an area close to the Strait of Hormuz in connection with the attacks. Iranian authorities say that several civilian areas were also targeted in the strikes.

US President Donald Trump stated that there is still a ceasefire agreement in place, despite the renewed tensions. But, he said, “If Iran does not complete a peace deal promptly, there will be more forceful measures to take.

The situation also created worries in the Middle East region. The United Arab Emirates earlier today said it has seen further incidents associated with Iran. Israeli military operations in Lebanon reportedly left at least 12 dead.

President Trump says its ceasefire with Iran is still in effect, despite escalating hostilities with Iran.

“If there’s no ceasefire, you’re not going to have to know,” he said Thursday. “You’re just going to have to look at one big glow coming out of Iran.”

The comments come… pic.twitter.com/C8ipkVuJZh

— CBS News (@CBSNews) May 8, 2026

Optimism about a potential deal between the U.S. and Iran took the edge of stocks across the globe, which reached new record highs. Oil prices ticked down a little while gold continued in positive territory, as investors looked ahead to more rate cuts.

Altcoin Weakness Deepens as Dogecoin Drops 4% and Cardano Slips Lower

The Crypto price decline spread across major altcoins as investors reduced exposure to riskier digital assets. Dogecoin price dropped 3.62% and traded near $0.107 during Friday trading. 

If Dogecoin price it remains above the $0.1050 support level the bullish might  take an comeback. However a move below that range may trigger another decline toward the $0.1020 area.

Cardano also remained under pressure as traders followed Bitcoin’s downward movement. ADA  Price declined 1.31% and traded near $0.2644 over the past 24 hours.

Long-term ADA projection may revisit the $0.27 range if support at $0.26 remains intact. However, a break below that level could push prices closer to $0.255. Other major cryptocurrencies, including XRP and Solana, also recorded losses during the latest session.