Analyst: Brent crude oil remains above $100, Bitcoin faces macro pressure According to an analysis released by blockchain analyst Darkfost on CryptoQuant on October 23rd, Brent crude oil prices have remained above $100 due to ongoing tensions in the Gulf region and intensified attacks from Ukraine on Russian refineries. High oil prices transmit positive production costs, service and commodity prices, deepening inflation into the economy and potentially dragging down economic growth, limiting market liquidity, especially for high-risk assets such as Bitcoin. Data shows that historically, when Brent crude oil entered a strong upward trend and exceeded the annual average, Bitcoin's trend often slowed down; When oil prices fall sharply, it often occurs in sync with the rebound of Bitcoin. In July, oil prices briefly fell and Bitcoin immediately benefited, but Brent has since rebounded strongly. Darkfost pointed out that there is not a simple causal relationship between the two, and what is truly detrimental to risky assets is the economic environment brought about by high oil prices. Although liquidity may rotate between different markets, it can still support the continued rise of Bitcoin, but the current macro conditions are not conducive to new liquidity inflows.