U.S. isn’t really exposed to oil shocks and that might be helping bitcoin

Rising oil prices are shaking global markets, but the U.S. is largely insulated and bitcoin seems to be riding the wave alongside Wall Street. What to know : Oil prices have surged above $100 a barrel amid conflict involving Iran, the United States and Israel, pressuring global markets but leaving bitcoin largely unchanged around $67,000. Bitcoin is increasingly trading like a U.S. risk asset, buoyed by the relative resilience of Wall Street, America’s status as a net oil exporter and growing institutional access through spot ETFs. While U.S. energy independence may delay the impact of higher oil prices at the gas pump, a prolonged conflict and sustained oil spike could eventually feed into American inflation and consumer costs.