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.