BTC has no significant correlation with oil prices, says Binance Research

Bitcoin moves independently of crude oil prices and has shown its own upward trend even during crises, according to an analysis by Binance Research. The research noted that an analysis of 10 years of data confirmed no long-term correlation between Bitcoin and oil prices. It found that the two assets do not affect each other, except during certain periods of expanded liquidity. Binance Research highlighted that amid the current surge in oil prices due to the blockade of the Strait of Hormuz, Bitcoin has actually risen, outperforming both stocks and gold. The rally is driven by institution-led demand, including inflows into spot ETFs and corporate purchases. Oil prices are merely a factor that increases volatility rather than determining the direction of Bitcoin's price, the report explained.