SOL and DOGE Rise Over 4% as Bitcoin Recovers to $80K Level
Bitcoin and the broader crypto markets are experiencing gains after a decline alongside traditional markets. Key points include:
- Solana's SOL and dogecoin (DOGE) rose over 4% in 24 hours.
- XRP, BNB Chain’s BNB, and Tron’s TRX increased between 2%-3%.
- Ether (ETH) declined 2.4%, losing 12% over the past week.
- A 90-day pause on new tariffs (excluding China) led to a temporary relief rally.
- Traders suggest bitcoin may be bottoming, potentially pushing toward $100,000 by year-end.
- Ming Wu of RabbitX noted optimism from reduced trade fears and a market U-turn.
- Wu highlighted that many stocks were oversold before the announcement, triggering a short squeeze.
- Ryan Lee from Bitget Research observed a 6% surge in BTC reclaiming the $80K level post-announcement.
- Lee sees strong institutional demand for BTC as a hedge against uncertainty.
- Future momentum is contingent on macro clarity and technical strength, with BTC expected to range between $80K-$85K.