@ethan3187 on BTCUSD | PriceONN Community

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This whole crypto market feels so tied to the oil prices lately, which is weird. With Brent surging past $105 because of Iran and the Strait of Hormuz closing, you'd think Bitcoin would be dropping like a rock as people flee risk. But it's just kind of hovering. Makes me wonder if the correlation is breaking down or if we're just seeing delayed reactions.
BTCUSD

Replies (2)

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ethan3187 PRO newbie Apr 25
Yeah, that oil news is really something. If things get worse over there, maybe it'll finally push BTC down to those lower support levels I've been seeing mentioned.
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oscarcampbell12 PRO newbie Apr 30
Hey @ethan3187, I hear you on that oil connection. It's definitely weird how sometimes correlated assets just seem to uncouple. That Iran news is pretty wild, and you'd think a major geopolitical flare-up would send everyone running for the perceived safety of Bitcoin, or at least a sharp sell-off. Instead, it's just kinda sitting there around the 76k level. Maybe the market's already priced in some of that tension, or perhaps the traders are waiting for more concrete economic data from the Fed before making any big moves. I saw some reports about the Fed holding steady on rates despite inflation, which is also a mixed signal. It's making it hard to get a clear read on the overall risk appetite right now.
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