Bitcoin Faces Challenges as Brent Crude Oil Stays Above $100
Photo: CaptainAltcoin
Bitcoin is facing a difficult macro backdrop as Brent crude oil remains above $100 per barrel, with CryptoQuant analyst Darkfost pointing to a historical relationship between strong oil trends and weaker Bitcoin momentum. The chart compares Bitcoin with Brent crude oil and Brent’s 365-day moving average going back to 2014. Darkfost’s argument is that Bitcoin has often struggled when Brent enters a sustained uptrend and trades above its annual average. That condition is becoming relevant again, with Brent around $104 and its 365-day moving average turning higher. What the Bitcoin vs.
Source: CaptainAltcoin
