Bitcoin rose from $60,000 to $87,000 between July and September, a 45% gain, but has fallen about 2% in October as oil prices surged to around $100. The author argues the link between Bitcoin and oil is not persistent: long-term rolling correlations with WTI and Brent hover around 0, and short-lived correlations tend to fade over longer horizons. The author sees much of Bitcoin's daily narrative as noise, such as its moves alongside tech earnings, and views it as a long-term, volatile asset best assessed over the big picture. The author says they are still buying Bitcoin despite high gasoline prices.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: With Oil Prices Rising , Bitcoin Remains Stuck Below $85 , 000 . Here Why Im Still Buying Bitcoin Right Now .
Read the original on fool.com ↗
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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
▼ Likely negativeEthereum
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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- With Oil Prices Rising, Bitcoin Remains Stuck Below $85,000. Here's Why I'm Still Buying Bitcoin Right Now.
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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