In 2025, the global financial markets are splitting, with the S&P 500 index rising over 16% to a record high, while Bitcoin has fallen 3%, and in the second half of the year, it has dropped nearly 18%. The two have moved in completely opposite directions for the first time since 2014. $SOL $XRP $BNB Behind this, factors such as regulatory policy uncertainty, the weakening of market momentum due to Bitcoin ETFs, changes in market leverage and liquidity are all contributing to Bitcoin's weakness. Meanwhile, traditional stock markets are performing strongly due to better-than-expected corporate earnings and robust AI stocks. Now, Bitcoin's correlation with the US stock market has weakened, changing asset allocation logic. Related listed companies and mining firms are also impacted. Institutional opinions are divided, and variables such as future regulation, liquidity, and market structure will influence Bitcoin's trend. What do you think about Bitcoin's future? Feel free to follow, bookmark, like, and comment!