Wall Street Connects Bitcoin’s Rally To Falling Oil Prices—That’s Wrong, Bitwise Says
Posted On January 6, 2026
Bitcoin (CRYPTO: BTC) surged more than 5% over the weekend to reclaim the $93,000 level, but analysts say the move is being misattributed to recent political developments involving Venezuela.
What Happened: Bitwise Invest’s Head of Research Ryan Rasmussen said Bitcoin’s rally is being wrongly framed as a Venezuela-driven macro trade—one that assumes higher oil supply would push inflation lower and accelerate interest-rate cuts. In reality, rate expectations have barely moved.
Market-implied probabilities for 25-basis-point rate cuts in January and …
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