Traditional assets are hitting new highs, while Crypto Assets are in hibernation. Gold and silver have both broken through historical highs, and the S&P 500 and Nasdaq indices are also approaching new high levels, with the Dow Jones index having set a new record. Meanwhile, Bitcoin has fallen 28% from its peak, experiencing the weakest Q4 performance in the past 7 years.

What is even more intriguing is that this wave of decline is not due to any negative news, market panic, or scandal. Against the backdrop of mainstream financial assets hitting new highs one after another, Bitcoin has instead entered a phase of adjustment on its own. This dislocation phenomenon reflects the market's repricing of risk assets and safe-haven assets, and poses an interesting question for those tracking asset allocation: how long will this adjustment in the crypto market last?