I just observed that gold and silver have risen significantly this week. The price of oil is also starting to go up. That is interesting because most people think that when commodities increase, inflation expectations also rise.

So that could be a problem for Bitcoin and other crypto assets. When traditional commodities like oil and precious metals go up, investors tend to become more risk-averse. They withdraw money from speculative assets and return to safer investments.

That trend has happened before. Whenever oil prices and inflation fears increase, we see Bitcoin either decline or stay stagnant. We should watch this movement in the coming weeks. That’s my observation for now, but the setup is really interesting right now.