According to Woofun AI, Bitcoin successfully reclaimed the key psychological threshold of $80,000 amid a strong rebound in the U.S. technology sector, signaling a substantial recovery in market risk appetite.
This rally is not an isolated phenomenon but is driven by intensive investment and financing activities in the artificial intelligence sector, which directly boosted the willingness to allocate to risk assets, while the reduction in selling by Bitcoin long-term holders slowed significantly, providing fundamental support for further price upside.
In terms of specific market data, as of 8:14 a.m. on the 28th, BTC on the South Korean digital asset exchange Upbit closed at 177.85 million Korean won, up a modest 0.82% from the price at 9 a.m. the previous trading day.
Meanwhile, data from leading global exchange Binance showed that BTC rose 1.31% over the past 24 hours, with the latest price at $80,925.97.
Major altcoins also followed suit, with ETH rising 1.81% to $2,351.03, while XRP posted a more notable gain of 3.13% to $1.3296.
Data compiled by Woofun AI shows that total market liquidations over the past 24 hours amounted to approximately $145.69 million, of which BTC position liquidations accounted for about $33.75 million.
Notably, the liquidation structure showed clear short-stop characteristics: short position liquidations accounted for as much as 77.0%, totaling $25.97 million, while long position liquidations accounted for only 23.0%, or $7.78 million.
This large-scale flushing out of shorts is typically viewed as a technical signal of a short-term trend reversal or an accelerating uptrend.
The core macro variable driving this reversal is the strong performance of U.S. technology stocks.
In New York trading that day, the Nasdaq 100 Index (QQQ.US) rose 1.3%, marking its largest single-day gain in five weeks; the S&P 500 Index (SPY.US) rose 0.6% in tandem; and the index reflecting semiconductor industry momentum (SOXX.US) surged 3.6%.
Behind this technology stock rally is the direct impetus from large-scale capital operations by AI-related companies.
Meta (META.US) issued $25 billion worth of stock that attracted demand equivalent to five times the fundraising amount, demonstrating institutional investors' extreme appetite for AI infrastructure.
Oracle deepened its cooperation with OpenAI, further raising market expectations for investment in underlying AI technologies.
In addition, Anthropic's upcoming initial public offering (IPO) became another major catalyst.
Its securities filing showed that the company's operating cash flow and profits are both positive, a financial health condition that largely alleviated market concerns about the widespread "high investment, low profitability" dilemma facing AI companies.
Michael O'Rourke, chief market strategist at John Trading, noted that after three weeks of suppression, AI-related stocks finally achieved a rebound.
He emphasized that although some small and medium-sized enterprises face operational difficulties, large AI companies can still sustain large-scale investment, a fact that effectively eased investor anxiety.
Beyond stock market factors, the decline in international oil prices also provided additional psychological support for risk assets.
As各方 worked to ease military tensions in the Persian Gulf region, Brent crude oil prices fell below $114 per barrel.
The pullback in oil prices directly reduced market concerns about a resurgence of inflation, creating favorable conditions for the recovery of investment sentiment.
However, market focus remains concentrated on the U.S. Federal Reserve's interest rate decision to be announced on the 28th.
Although the market widely expects the Fed to keep rates unchanged, the possibility of further rate hikes still exists, and this uncertainty remains a sword of Damocles hanging over the market.
From Bitcoin's own supply and demand fundamentals, the behavior pattern of long-term holders has undergone a positive change.
Data from blockchain analytics firm CryptoQuant reveals that the proportion of BTC held for more than 18 months in Bitcoin's total market value (i.e., the "realized capitalization" share) fell from 26.98% on September 16 to 26.59% recently.
Here, "realized capitalization" refers to the total value of all held Bitcoin calculated based on the price at each Bitcoin's last transaction.
CryptoQuant analysis points out that historically, when this ratio turns from rising to falling, it often signals that strong upward momentum is about to begin.
Although the current change is still small, it may already mark the early stage of a new upward cycle.
Digital asset investment firm Galaxy Digital (GLXY.US) also observed a similar trend: the monthly average circulation of BTC held for more than 5 years dropped from 67,000 BTC in 2024 to 47,000 BTC last year, and further declined to about 34,000 BTC this year.
Galaxy Digital (GLXY.US) analysis suggests that the main resistance that previously limited Bitcoin price gains — large-scale selling by long-term holders — has clearly slowed, and this supply-side tightening has created favorable structural conditions for future price increases.
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