Oil squeeze could set bitcoin's next move, analysts say
- —WTI is stuck in a narrowing range near $102 after sharp swings in March and April
- —A break above $105.50 opens the $117–119 zone and could lift bond yields
- —A move toward $93 would ease inflation worries and support risk assets
- —Bitcoin-oil correlation flipped from 0.18 to -0.47; BTC-Nasdaq 100 sits at 0.64
Why it matters: The direction of the oil breakout will shape inflation and Fed rate expectations, and with them demand for bitcoin.
Source: Koin Bülteni