Brent Crude Surges 10% in Two Days, Negative Correlation With Bitcoin May Resurface: CryptoQuant Analyst

According to CryptoQuant analyst Darkfost, Brent crude oil prices surged approximately 10% over two days as of July 9, with the price breakthrough above its annual average line typically signaling economic stress periods characterized by rising inflation, declining production, and slower growth.

Darkfost noted that Bitcoin, as a risk asset, exhibits inverse correlation with oil prices over long-term timeframes: rising oil prices tend to slow Bitcoin bull trends, while declining oil prices boost investor risk appetite. The current sharp oil price increase coincides with Bitcoin's difficult period, with BTC holding near the key 60,000 USD level.