market

Crypto Markets Rally: Dogecoin$DOGE

Jumps 10%, Bitcoin$BTC

Nears $104K on Renewed Risk Appetite

The cryptocurrency market is seeing a strong resurgence as investor sentiment shifts back toward risk-taking. Bitcoin has surged past the $104,000 mark for the first time in over two months, while Dogecoin and Ethereum$ETH

Key Highlights:

Bitcoin hit nearly $104,000 amid a broader market bounce.

Dogecoin leads altcoin gains, soaring 10% in 24 hours.

Ethereum climbs 3.5% after the successful Pectra network upgrade, with weekly gains topping 30%.

U.S. state-level crypto legislation and optimistic geopolitical developments are fueling positive sentiment.

Saturday’s early Asian trading hours saw Bitcoin making a major move, buoyed by improving macro conditions and growing optimism around digital assets. Dogecoin posted double-digit gains, while Ethereum benefited from its major Pectra upgrade — a move welcomed by institutions for its efficiency-boosting features.

Other leading altcoins including Solana (SOL), Cardano (ADA), XRP, and BNB registered solid advances, climbing between 2% to 6%. The uptick marks a decisive turnaround from the subdued action that dominated much of March and April.

In the U.S., crypto-friendly legislation is gaining momentum. New Hampshire and Arizona both passed bills this week backing the creation of Bitcoin reserves, signaling a shift in state-level support ahead of the upcoming elections.

Meanwhile, international trade optimism added fuel to the fire. Former President Trump’s upbeat tone on U.S.-China trade talks, coupled with a new U.S.-U.K. trade agreement, helped calm global markets and added strength to the crypto rebound.

"This renewed optimism is pushing capital back into riskier assets like crypto," said Jeff Mei, COO of BTSE. "If momentum holds, we could see Bitcoin challenge its previous highs in the near future."

At the time of writing, Bitcoin is trading about 5% below its January peak of over $108,700.

According to Nick Ruck of LVRG Research, “Altcoins are seeing renewed buying interest as traders shift their view on crypto as a hedge amid evolving market conditions.”

Ethereum’s 30% rally this week has been particularly notable, attributed not only to the Pectra upgrade but also to rising institutional demand and ETF interest.

“The recent upgrade reinforces Ethereum’s standing as a top-tier blockchain,” Mei added. “With ETH still far from its all-time high, the upside potential remains significant, especially as market uncertainty begins to fade.”

Still, investors remain cautious ahead of this weekend’s U.S.-China trade talks in Switzerland, which could play a key role in determining the short-term trajectory of global markets — and by extension, crypto.

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