PANews reported on April 12 that Jim Iuorio, a senior futures and options trader, wrote an article on the CME official website analyzing the reasons for the recent weak performance of Bitcoin. He pointed out that there are two main reasons:

First, the positive news has been digested by the market after Bitcoin reached a peak of $109,000 in mid-January, and the market will choose to sell after the expected news is confirmed, resulting in an increase in the liquidation of long positions at the same time;

Second, many institutional traders have included Bitcoin and the Nasdaq index in the same investment portfolio, and when the Nasdaq falls sharply, it will trigger a sell-off of Bitcoin to meet margin requirements.

In addition, the relatively close correlation between gold and Bitcoin began to show cracks in 2025, with gold rising 16% and Bitcoin falling more than 6% by the end of March. Analysts believe that despite the recent divergence between gold and Bitcoin, the rapid development of Bitcoin in the digital age is unprecedented and is accelerating its maturity.