Brent crude staying above $100 is creating a macroeconomic backdrop that could make it harder for new liquidity to flow into Bitcoin, according to CryptoQuant.
As tensions in the Gulf and Ukraine’s attacks on Russian refineries continue, Brent is trading above $100. CryptoQuant says a brief easing in oil prices in July gave Bitcoin some breathing room, but Brent has since climbed sharply again.
According to CryptoQuant’s assessment, rising oil costs could spread through production, services, and commodity prices, deepening inflation. This economic environment could limit the market liquidity flowing into risk assets, particularly Bitcoin. The analysis does not establish a direct cause-and-effect relationship between oil prices and Bitcoin; it links the potential pressure to the economic conditions accompanying the rise in oil prices.
Brent’s rise can coincide with a slowdown in Bitcoin
A CryptoQuant chart covering the 2014–2026 period compares Bitcoin’s price with Brent prices and the oil benchmark’s 365-day average. According to the source’s long-term observation, Bitcoin often slows when Brent posts a strong rise above this average. Periods of sharp declines in Brent, meanwhile, frequently coincide with Bitcoin recoveries.
CryptoQuant believes current economic conditions do not support new liquidity entering the market. However, the analysis notes that liquidity could shift to different markets, leaving open the possibility that Bitcoin may maintain its current momentum.
Not investment advice.