Bitcoin rose 45% from July to September, from $60,000 to $87,000, but is down 2% in October as soaring oil prices, hovering around $100, have weighed on it. The author argues the usual oil-to-inflation-to-rate-hike chain is not supported by long-term data, since rolling correlations between Bitcoin and WTI or Brent typically sit near zero and appear only over short periods. He sees most daily explanations, such as Bitcoin rising alongside SpaceX's better-than-expected revenue, as noise, and describes Bitcoin as a long-term, buy-and-hold asset prone to short-term volatility. The author says he is still buying Bitcoin regardless of gas prices.
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bitcoinoil pricesinflationcrypto
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Related tickers and likely impact
BTC/USDT
▼ Likely negativeBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/24/2026 | 80,888.16 |
| Change that session | -0.37% |
ETH/USDT
• NeutralEthereum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $285.6B |
| Close on 10/24/2026 | 2,358.82 |
| Change that session | -1.21% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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