#加密市场观察 The recent crash of Bitcoin further clarifies its current mainstream financial attributes: it is more akin to a high-risk technology asset sensitive to liquidity rather than pure "digital gold."
Therefore, when market risk aversion rises, funds flow into real gold, while Bitcoin often declines in tandem with tech stocks; conversely, when gold experiences a sharp drop due to "profit-taking," market anxiety spreads, also leading to a decline in Bitcoin prices.
Over the past year, the Bitcoin market has exhibited a complex "maturation pain."
In October 2025, Bitcoin hit a record hig