Crude oil is rising 📈
In the short term, it's definitely bearish for BTC 📉
But not necessarily in the long term
If crude oil rises due to economic prosperity
Rising oil prices could actually be a good thing
Capital is more willing to flow into stocks
And risk assets like Bitcoin
So it’s possible to see:
Crude oil up, US stocks up, and BTC up as well
Of course, this is not a guaranteed outcome
It also depends on how long the oil price increase lasts
And how much of the expectation the market has already priced in
Gold’s safe-haven attribute has long been tested by the market
While BTC still clearly exhibits characteristics of a risk asset
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