Oil Price Surge Sparks Conflict in Bitcoin's Signals

Bitcoin's signals are in open conflict. On one hand, a narrowing Coinbase discount and a rare weekly RSI bullish divergence suggest a bottom is forming.

However, spot demand remains negative, and institutional buying has flatlined.

The energy market is also facing an escalation of the Middle East crisis, pushing crude oil futures back above $90 per barrel.

This development, combined with rising long-term Treasury yields, makes it difficult for risk assets to expand their valuations.