Mike McGlone, senior commodity strategist at Bloomberg, wrote on the X platform that Bitcoin is showing signs of peaking, Bitcoin is becoming more correlated with US stocks, and is moving towards the S & P 500 Index (Bitcoin is about 3 times the 16-quarter beta value of the S & P 500 Index, compared with about 1 times that of gold). The excess growth of the latter should have returned to normal long ago, and may continue to favor gold. According to the analysis of the four-year "halving" cycle of Bitcoin, the systemic risk of Bitcoin is currently rising, while gold is the opposite.