Analysis: Brent crude oil continues to rise above $100, macroeconomic pressure may limit Bitcoin's upward potential According to BlockBeats, on October 23rd, CryptoQuant analyst Darkfost stated that Brent crude oil prices remained above $100 per barrel due to ongoing tensions in the Gulf region and increased attacks by Ukraine on Russian refineries. The rise in oil prices is transmitting positively to the global economy, pushing up production, service, and commodity costs, further infiltrating inflationary pressures into the economic system, and potentially increasing the risk of economic slowdown, thereby limiting market liquidity, especially the flow of funds into high-risk assets such as Bitcoin. Darkfost pointed out that in the long run, when Brent crude oil continues to exceed the annual average and enters a strong upward trend, BTC's performance often slows down; On the contrary, when oil prices fall sharply, BTC is more likely to experience a recovery. However, he emphasized that this does not mean there is a simple direct causal relationship between oil prices and BTC. What truly affects risky assets is the macroeconomic environment accompanied by high oil prices. In July of this year, oil prices briefly fell, and BTC immediately gained an opportunity to rise, but Brent crude oil has since rebounded significantly. Although funds may still rotate between different markets, driving BTC's continued upward trend, the current macro environment is not conducive to the sustained influx of new liquidity into the market. [Original link]