#比特币价格走势 After reviewing Bitcoin's performance data for 2025, I have to say that the underlying logic is much more interesting than just price comparisons.

The core issue isn't the coin itself, but energy allocation. Think about it—over the past decade, Bitcoin has monopolized energy conversion into digital scarcity assets through computational power, and this logic is unbeatable. But now? AI compute centers are competing for global electricity quotas, and the economic returns from training large models temporarily surpass the marginal gains from hash collisions—capital naturally flows to more profitable areas. This isn't Bitcoin being discredited; it's capital making more rational choices.

Why has gold been so strong in this wave? Geopolitical entropy increase. Atomic-level certainty (holding it in hand, not relying on the internet) has outperformed trust in consensus layers in the face of systemic risk. Although Bitcoin is touted as digital gold, it heavily depends on internet infrastructure—under extreme circumstances, gold is a safeguard against system collapse, while Bitcoin is more about systemic liquidity overflow.

What do these changes mean for you? Don't rush to go all-in on any single asset. We are in an era of differentiation, and it's important to switch strategies across different cycles. The wave of productivity singularity is still blowing, but defensive needs are real—hold both chips for participating in AI growth and hedging against uncertainty.

When AI's marginal efficiency declines and liquidity overflows, Bitcoin will shine again. The current low volatility isn't death; it's accumulation. Learning to identify opportunity costs at different stages is the higher-level way to profit.