Senior futures and options trader Jim Iuorio wrote an article on the official website of CME analyzing the reasons for the recent weak performance of Bitcoin. He pointed out that there are two main reasons:
One reason is that after Bitcoin reached its peak of $109000 in mid January, the positive news has been digested by the market, and it is expected that after the news is confirmed, it will choose to sell, leading to an increase in liquidation of long positions;
Secondly, many institutional traders have grouped Bitcoin and the Nasdaq index into the same investment portfolio, and when the Nasdaq index falls sharply, it will trigger a Bitcoin sell-off to meet margin requirements.
In addition, the relatively closely related relationship between the trends of gold and Bitcoin began to crack in 2025, with gold rising by 16% and Bitcoin falling by over 6% as of the end of March. Analysis suggests 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 its maturity.
