Oil Breaks IDR 1.7 Million per Barrel, Will Bitcoin Crash Again Like Before?

Updated

April 1, 2026

Summarize

ChatGPT Perplexity

Summarize

ChatGPT Perplexity

Gambar Oil Breaks IDR 1.7 Million per Barrel, Will Bitcoin Crash Again Like Before?

Jakarta, Pintu News – A spike in global oil prices has again sparked concern in the crypto market after West Texas Intermediate (WTI) broke through the $105 level or around Rp1.78 million per barrel. Historically, this level is often associated with a sharp correction in Bitcoin , which is now trading at around $68,941.

This rise in energy prices raises a big question among cryptocurrency investors: will history repeat itself? However, some analysts think that the relationship between oil and crypto is not that simple.

History Shows Bitcoin Correction Pattern as Oil Rises

In the past, oil price spikes above $105 have often been followed by Bitcoin (BTC) price drops. In June 2014, when oil prices spiked due to the conflict in Iraq, Bitcoin dropped about 21% in less than 10 weeks.

The price of BTC at the time fell from around $600 or €10.2 million to $468 or €7.95 million. This decline shows that there is great pressure on crypto assets when global conditions are unstable.

A similar event happened in March 2022 when the Russia-Ukraine conflict pushed oil prices back above $105. Bitcoin experienced a correction of about 14% in just one week, dropping from $44,370 to $38,100 or about Rp753 million to Rp647 million.

However, the decline was temporary and prices recovered in less than a month. This shows that the impact of oil on cryptocurrencies is not always long-term.

Not All Bitcoin Corrections Are Caused by Oil Prices

Despite historical patterns, many analysts believe that the correlation between oil prices and Bitcoin (BTC) is not direct. In some cases, other factors play a more dominant role in triggering crypto price declines.

An example is the bankruptcy of the Mt. Gox exchange in 2014 which worsened market sentiment significantly. This event was one of the main causes of the long bear market at the time.

In addition, in 2022, the collapse of the Terra-Luna ecosystem was also a major factor that exacerbated Bitcoin’s price decline. After the oil price broke $105 again in May 2022, BTC experienced a 27% drop in a short period of time. However, the pressure came not only from macro factors, but also from the internal crisis in the cryptocurrency market. This shows that crypto price movements are influenced by a combination of factors.

Also read: Top 3 Crypto Stocks on the Rise in Early April 2026

Oil’s rise is not necessarily a bearish crypto signal

Although oil prices have broken through psychological levels again, there is no strong evidence that this will always trigger a crash in Bitcoin (BTC). In the past 12 years, similar events have only happened a few times, so there is limited data available. In addition, the current market conditions are very different compared to previous periods. Factors such as institutional adoption and regulation also play an important role in determining the direction of the crypto market.

In addition, geopolitical statements such as the United States’ plan to control Iran’s oil industry have added to global uncertainty. However, the crypto market is more mature than ever, with greater liquidity and wider investor participation. Therefore, the impact of rising oil prices on cryptocurrencies may not be as great as feared. Investors are advised to look at the overall market conditions before jumping to conclusions.

Follow us on Google News to stay up to date with the latest in crypto and blockchain technology. Check Bitcoin price, usdt to idr and tokenized nvidia stock price through Pintu Market.

As a safe crypto app, Pintu provides a crypto trading experience to access crypto gold investment easily and conveniently. You can also see today ‘ s gold jewelry price and today ‘ s gold bullion price to support your investment activities and portfolio diversification as well as learn crypto through Pintu Academy.

Download the Pintu crypto app via Play Store or App Store now. Enjoy web trading experience with advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference