On-chain analyst DarkPost analyzed that Brent crude oil prices exceeding $100 per barrel are creating an unfavorable macroeconomic environment for Bitcoin. The explanation states that rising oil prices due to tensions in the Middle East and the expansion of Ukraine's attacks on Russian refineries are increasing inflationary pressure on overall production costs and service prices. According to the analysis, in the past, when Brent crude oil prices showed a strong upward trend, exceeding the annual average, Bitcoin's upward momentum tended to slow down. Conversely, when oil prices plummeted, Bitcoin often showed a recovery. Meanwhile, in July, Bitcoin rebounded as oil price upward pressure temporarily eased, but Brent crude oil prices surged again afterward. He assessed, "Although there is a possibility that Bitcoin's upward trend will continue due to inter-market fund movements, current macroeconomic conditions are unfavorable for new liquidity inflows."
