Entertainment Music Pop Music Fans Think Taylor Swift's New Song References Joe Alwyn Split: 'Throw Out Everything We Built or Keep It?' In "You're Losing Me," Swift sings of a failing relationship and feeling sick as she watches it collapse By Julia Moore Julia Moore Julia Moore is a TV writer-reporter at PEOPLE. A graduate of Northwestern University, she has been working at PEOPLE since 2022. People Editorial Guidelines Published on May 26, 2023 03:05PM EDT Close Taylor Swift and Joe Alwyn in 2020. Photo: Getty Taylor Swift may be shedding more light on her split from Joe Alwyn earlier this year. In a newly released vault track called "You're Losing Me," Swift, 33, sings about feeling sick as a relationship crumbles in front of her eyes. Likening herself to a "phoenix always rising from the ashes, mending all her gashes," she questions whether to stay and try to mend the relationship or give up on it. "Do I throw out everything we built or keep it? / I'm getting tired," she sings. In the chorus, Swift repeats "Stop, you’re losing me," several times before adding, "I can't find a pulse / My heart won't start anymore for you / 'cause you're losing me." After the chorus, she sings "my pain is such an imposition" as she continues to allude to a failing relationship. "Now you're running down the hallway / And you know what they all say, 'You don't know what you got until it's gone.'" In the wake of the release — off of Midnights (Til Dawn Edition) — fans scrambled to draw meaning from the melancholy lyrics, particularly in light of Swift's split from the actor, 32, after more than six years of dating. An insider previously told PEOPLE that the breakup resulted from "differences in their personalities" that led them to realize they "weren't the right fit." Joe Alwyn Makes First Public Appearance Since Taylor Swift Breakup Taylor Swift and Joe Alwyn in 2019. Getty Many fans compared the somber lyrics to those of some of Swift’s most romantic songs, where she’d sing about being in love — and she was, at the time, with Alwyn. One lyric in particular from the song's bridge stood out to fans. The question of whether Swift and Alwyn had wed over the course of their relationship had been a major source of speculation, and in the bridge, Swift sings, "I'm the best thing at this party (You're losing me) / And I wouldn't marry me either." In a rare statement about their relationship in 2022, Alwyn quipped to WSJ Magazine, "If I had a pound for every time I think I've been told I've been engaged, then I'd have a lot of pound coins." He added, "I mean, the truth is, if the answer was yes, I wouldn't say, and if the answer was no, I wouldn't say." After admitting she wouldn't marry herself in the song, Swift goes on to describe herself as "a pathological people pleaser" as she recalls begging her partner to "'Do something, babe, say something,'" as their relationship flounders. Though many fans are speculating about the root of "You're Losing Me," Swift has moved on in the months since her split from Alwyn. She's been linked to fellow musician Matty Healy of The 1975 in recent weeks, and the pair were most recently spotted sharing a kiss during a night out in New York City on Wednesday. Healy, 34, has also been in attendance at several of Swift’s recent stops on The Eras Tour and has been supporting her from the crowd. He's even taken the stage himself several times to perform alongside Phoebe Bridgers, his close friend and one of Swift's opening acts. Despite her recent relationship changes, the singer-songwriter told the audience at last week’s Foxborough, Massachusetts show that she's "never been this happy." Taylor Swift and Matty Healy's Relationship Through the Years Taylor Swift. John Shearer/TAS23/Getty "You're Losing Me" is the second of two new releases from Swift, though it appears only on a special edition CD being sold at her East Rutherford, New Jersey shows this weekend. On Friday, she released Midnights (Til Dawn Edition), which features one other new song, "Hits Different," which had previously appeared only as a Target exclusive track. Taylor Swift Releases 'Karma' Remix with Ice Spice and Shares How Collab Came to Be: Listen She also released newer versions of two of the album’s original songs, "Karma" and "Snow on the Beach." In "Karma," rapper Ice Spice joined Swift, while on "Snow on the Beach" she expanded Lana Del Rey’s feature, which appeared on the original version of the album. "You asked for it, we listened: Lana and I went back into the studio specifically to record more Lana on 'Snow on the Beach,'" Swift wrote on Instagram as she announced the new release. As for her collaboration with Ice Spice, the “Maroon” singer described herself as "a massive fan of this brilliant artist and after getting to know her I can confirm: she is THE ONE to watch."