The recent data is quite interesting—Bitcoin at the $87,500 level has a correlation with stocks (6900) and gold ($4,500) that has hit a record low. This kind of anomaly has actually occurred before; when Bitcoin was below $1,000, it was followed by a tenfold increase.

Of course, the breakdown of correlation this time might be different as well, since market conditions are changing and the composition of participants has shifted. But this phenomenon of complete decoupling is indeed worth pondering—whether it’s just short-term price fluctuations or a deeper change in market structure? Anyway, all these clues are right here; how to interpret them depends on individual judgment. Time will tell.