Oil's Dominance is Destroying Bitcoin

Because of the world's actual, practical reliance on oil, even BTC is having a hard time keeping up.

Bitcoin, sadly, is in a bear trend against oil. I don't know when this bear trend will end, either. I cannot tell if it is short or long term.

Perhaps someone with experience trading oil futures and whatnot can chime in. Otherwise, watch out, fellow crypto enthusiasts. Looks like Oil's very stubbornly dragging BTCUSD down through all this worldly conflict.

What do you think? Does this indicator even matter? How does this affect market confidence in bitcoin? Does it even affect it at all?

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.