Analysis: The relationship between BTC and gold has "shown cracks," and the recent weakness may be due to the market digesting the positive news after reaching the peak of $109,000

ChainCatcher news, senior futures and options trader Jim Iuorio wrote an analysis on the CME Group's official website regarding the recent weak performance of Bitcoin. He pointed out two main reasons: first, after Bitcoin reached a peak of $109,000 in mid-January, the positive news has been digested by the market, and once the expected news is confirmed, traders choose to sell, leading to an increase in long position liquidations; second, many institutional traders have included Bitcoin in the same portfolio as the Nasdaq index, and when the Nasdaq falls sharply, it triggers Bitcoin sell-offs to meet margin requirements.

In addition, the relatively close correlation between gold and Bitcoin began to show cracks starting in 2025. By the end of March, gold had risen by 16% while Bitcoin had fallen by more than 6%. Analysts believe that although there has been a recent divergence between gold and Bitcoin, the rapid development of Bitcoin in the digital age is unprecedented and is accelerating towards maturity.