According to Woofun AI, crypto market sentiment has staged a significant reversal after a prolonged slump, with Bitcoin as the core asset launching a powerful rally from its starting point of $65,000 in mid-August. The establishment of this price anchor marked a shift in market attention from wait-and-see to reallocation, laying an initial foundation for subsequent pushes toward higher price levels.

Recently, the Bitcoin price has climbed to $90,000, touching its highest level since the start of the year. Notably, this rally did not stem from regulatory tailwinds, as the Clarity Act, aimed at establishing a framework for digital assets, has yet to be authorized or make substantive progress.

The underlying reason lies in the relative disparity in asset valuations: stocks are richly valued due to strong performance, while Bitcoin has fallen 26% over the past 12 months, and even after its recent rebound, its absolute price remains far below last year's all-time high (ATH) of $126,000. Investors view Bitcoin as an undervalued alternative asset to hedge against the risk of elevated stock market valuations, thereby driving capital inflows.

Woofun AI data shows that Bitcoin is currently priced at $83,368.00, down 1.90% on the day, a decline of $1,617.14, with a market capitalization of $1.7 trillion. The intraday price range was $82,581.00 to $85,089.00, while the 52-week range spanned $57,945.16 to $126,079.89, with trading volume of 33.8 billion.

A more critical variable lies in the falsification of its safe-haven property: looking back at 2022, when the S&P 500 fell 19%, Bitcoin dropped as much as 65%. This indicates that its movements closely track overall investor sentiment, tending to perform worse when risk aversion rises rather than offering protection.

Overall, despite the clear short-term rebound momentum, a rally lacking clear fundamental support carries the risk of giving back gains. Considering Bitcoin's sensitivity to macro sentiment and broader market concerns, it is expected to face significant difficulty in breaking through the $100,000 target before the end of 2026. Even if it briefly touches that level, it would be hard-pressed to sustain stability, and market volatility remains the core obstacle constraining its long-term upward trajectory.