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

Amid rising global oil prices due to conflict involving Iran, the U.S., and Israel, Bitcoin has remained stable around $67,000, unlike heavily affected Asian markets. This resilience is largely attributed to the U.S. being largely insulated from Middle Eastern oil shocks, as it is now a net oil exporter relying mainly on Canada and Mexico for imports. Consequently, U.S. stocks, which Bitcoin closely tracks, have held up better than global peers. Bitcoin's increasing correlation with Wall Street, tech stocks, and U.S. risk appetite—a trend accelerated by spot ETFs and favorable regulatory expectations—means it is mirroring American market stability. Furthermore, Bitcoin's prior oversold condition may have cleared out short-term sellers. While higher oil prices could eventually impact U.S. consumer inflation with a lag, for now, the U.S. market and Bitcoin are weathering the initial shock.

(Source：CoinDesk)