SOL, DOGE lead gains among majors as analyst eye next big move higher

What to know

• Bitcoin and other cryptocurrencies continue to zig and zag, rallying on Friday after plunging Thursday folllowing Wednesday's big gains..

• Solana and dogecoin led gains among major cryptocurrencies, while ether underperformed.

• Analysts suggest that the market's positive reaction could lead to further gains, with bitcoin potentially reaching $100,000 by year-end.

Bitcoin and broader crypto markets are gaining on Friday after sharply declining alongisde traditional markets Thursday.

Solana’s SOL and dogecoin (DOGE) rose over 4% in the past 24 hours, leading gains among majors, with XRP (XRP), BNB Chain’s BNB, and Tron’s TRX up between 2%-3%. Ether (ETH) was down 2.4%, continuing a dismal run that has seen it lose 12% in the past week despite most majors down 2% on average in the same period.

The Wednesday announcement of a 90-day pause on new tariffs — excluding those on China — sparked a brief relief rally across risk assets (which reversed on Thursday), with traders pointing out bitcoin price action showed signs of bottoming in what could set the stage for a push toward $100,000 by year-end.

“The surprise policy pivot temporarily soothed market anxiety, driving short-end crypto vols lower. Still, we advocate caution,” they said, adding that while some sell at higher levels, December $100,000 calls show long-term optimism.

Ming Wu, CEO of RabbitX, called it a market U-turn. “The markets just did a 180-degree turn after President Trump's recent announcement of a 90-day pause on tariffs, excluding those on China. This policy shift has injected a dose of optimism into the markets, leading to a sharp rally in both equities and cryptocurrencies,” he said in a Telegram message to CoinDesk.

Wu noted eased trade fears, saying the pause offers “breathing space” while keeping pressure on China.

Technically, Wu sees a setup for the surge. “From a technical perspective, prior to the announcement, markets had experienced significant declines, pushing many stocks into oversold territory,” he explained. The tariff news triggered a short squeeze, with buyers jumping in at key support levels, amplifying the rally.

Ryan Lee, chief analyst at Bitget Research, highlighted bitcoin’s 6% jump from Thursday.

“We saw a BTC’s over 6% surge, reclaiming the $80K level after Trump’s announcement to pause new tariffs, which sparked a broad crypto rally,” he said in an email.

Lee sees strong demand from institutions and long-term holders, viewing BTC as a hedge amid uncertainty.

“Looking ahead, the sustainability of this momentum hinges on continued macro clarity, technical strength, and market sentiment, with $80K now a key level to watch. Midweek, we predict BTC could range between $80K and $85K, with a bullish case pushing toward $85K if risk appetite persists or a pullback to $78K-$79K if uncertainties resurface. Traders should monitor macro developments and fund flows closely,” Lee ended.