Bitcoin and other cryptocurrencies are experiencing an uptick on Friday following a sharp decline alongside traditional markets the day before. Solana’s SOL and dogecoin (DOGE) have both risen over 4% in the past 24 hours, leading the gains among major cryptocurrencies. XRP (XRP), BNB Chain’s BNB, and Tron’s TRX are up between 2%-3%, while Ether (ETH) has seen a 2.4% decrease, continuing its recent downward trend with a loss of 12% over the past week.

The announcement on Wednesday of a 90-day halt on new tariffs (excluding those on China) briefly prompted a relief rally across various risk assets. Despite this brief positivity, the markets saw a reversal on Thursday. Some traders believe that the price action of bitcoin indicates a potential turning point, setting the stage for a push towards $100,000 by the end of the year.

“The unexpected policy change briefly calmed market nerves and reduced short-term crypto volatility. However, we advise caution,” noted market experts, pointing out that while some are selling at higher levels, the presence of December $100,000 calls indicates long-term optimism.

Ming Wu, the CEO of RabbitX, described the market shift as a complete turnaround. He attributed this shift to President Trump’s recent announcement of a tariff pause. Wu emphasized that this policy change injected optimism into the markets, resulting in a strong rally in both equities and cryptocurrencies.

Wu highlighted eased trade tensions, mentioning that the tariff pause provides “breathing room” while still maintaining pressure on China. From a technical standpoint, he sees the setup for a surge due to significant declines before the announcement. The tariff news triggered a short squeeze, with buyers entering the market at key support levels, fueling the rally.

Ryan Lee, the chief analyst at Bitget Research, pointed out bitcoin’s 6% surge from Thursday. Lee highlighted strong demand from institutions and long-term holders, who view bitcoin as a hedge amidst uncertainty.

Looking ahead, Lee believes that the sustainability of this momentum depends on macro clarity, technical strength, and market sentiment. The $80,000 level is now crucial to monitor. Lee predicts that bitcoin could range between $80,000 and $85,000 midweek, with a bullish scenario pushing towards $85,000 if risk appetite remains high, or a pullback to $78,000-$79,000 if uncertainties resurface. Traders are advised to closely monitor macro developments and fund flows.