Darkfost Says Brent Above $100 May Limit Liquidity for Bitcoin
Photo: TokenPost
Analyst Darkfost said Brent crude was above $100 on Oct. 23 and that sustained oil strength may signal slower economic growth and limit liquidity for risk assets such as Bitcoin (BTC). Darkfost tied the potential pressure to the broader economic conditions that can accompany rising oil. He said those conditions are unfavorable for new liquidity entering markets, especially markets for high-risk assets. Bitcoin’s performance has tended to slow when Brent is in a strong uptrend and above its annual average, Darkfost said. Sharp drops in oil have often coincided with Bitcoin rebounds.
Source: TokenPost
