Oil Price Surge Could Spell Trouble for Bitcoin, Analyst Warns

Oil prices rising above $120 could negatively impact Bitcoin's recovery to its all-time high, as higher oil costs lead to inflation, which in turn affects interest rates and crypto liquidity. The US Federal Reserve is unlikely to change interest rates this month, and experts predict a stagflationary scenario, which is detrimental to Bitcoin's performance. The conflict in the Middle East and its impact on oil prices could trigger a 10%-15% correction in the US stock market, further affecting Bitcoin.