Does oil prices have anything to do with the crypto market?

[Fidelia]

We have heard that oil prices are plummeting. And that is a major economic influence in the world. Does movement in the global prices of oil have any bearing on the crypto market? Or is the crypto market completely independent of happenings in the international oil market?

 

[Suba]

Although global oil prices are not directly affected by crypto prices, if oil prices can be related to inflation in large countries such as the United States, then they will ultimately have an impact on the crypto market.

 

[Kross]

Although global oil prices are not directly affected by crypto prices, if oil prices can be related to inflation in large countries such as the United States, then they will ultimately have an impact on the crypto market.

So what happens when the oil price is low as it is now and causes the revenue of the United States to shrink.

 

[Suba]

So what happens when the oil price is low as it is now and causes the revenue of the United States to shrink.

According to experts who study the influence on crypto prices, especially from macroeconomic variables during 2024, researchers use a random effect model that oil prices do not have a significant and direct effect on the crypto market.

 

[magnus2022]

We have heard that oil prices are plummeting. And that is a major economic influence in the world. Does movement in the global prices of oil have any bearing on the crypto market? Or is the crypto market completely independent of happenings in the international oil market?

Oil price directly or indirectly influences every business in the world. If price of oil increases, therr is likelihood of inflation because every business depend on oil one way or the other.

Post automatically merged: Apr 10, 2025

We have heard that oil prices are plummeting. And that is a major economic influence in the world. Does movement in the global prices of oil have any bearing on the crypto market? Or is the crypto market completely independent of happenings in the international oil market?

Oil price directly or indirectly influences every business in the world. If price of oil increases, therr is likelihood of inflation because every business depend on oil one way or the other.

 

[Webster]

We have heard that oil prices are plummeting. And that is a major economic influence in the world. Does movement in the global prices of oil have any bearing on the crypto market? Or is the crypto market completely independent of happenings in the international oil market?

Short answer? No.
Long answer? Still no.

Oil and crypto trade similarly but are two entirely separate things.

 

[riberet19]

As far as I know, the price of oil is not correlated with the crypto market, but who knows...