From the perspective of the macroeconomic situation: The decline in gold prices sometimes reflects an improvement in the macroeconomy, a decrease in inflation expectations, and a potential tightening of monetary policy. In this case, overall liquidity in the financial markets may be affected, making it difficult for Bitcoin to remain insulated, resulting in a possible price decline. Conversely, if the decline in gold prices is due to market panic leading investors to sell assets for cash, triggering a liquidity crisis, Bitcoin would similarly see a price drop due to investors' panic and tight funds.

• From the perspective of investor sentiment: A decline in gold prices may undermine investors' confidence in traditional safe-haven assets such as precious metals, which in turn affects confidence in emerging assets like Bitcoin that have similar hedging functions, raising concerns about Bitcoin's prospects and leading to a decline in its price. $BTC #美国半导体关税