Analyst: Bitcoin's Rebound is 'Fragile', Driven by Falling Oil Prices Rather than Strong Buying

On May 4, macro analyst and Coin Bureau co-founder Nic Puckrin stated that Bitcoin’s recent rebound after breaking the $80,000 mark “looks precarious.” He pointed out that this increase is primarily driven by falling oil prices (Brent crude dropped below $110 due to news from ‘Project Freedom’), rather than strong buying support. If Brent crude rises above $110 again, Bitcoin will face significant downward pressure. Puckrin believes that if Bitcoin cannot hold the $79,500 level today, the likelihood of a substantial increase will decrease. He also noted that gold has lost momentum after a strong performance in 2025; demand for the dollar index as a safe haven is weakening as many countries globally seek to reduce reliance on dollar-denominated assets. Regarding the traditional stock market, Puckrin warned that AI trading is becoming crowded, with a warning sign being that companies outside the industry (such as a Japanese toilet manufacturer) are “turning to AI” to save their stock prices, similar to last year’s trend of companies incorporating Bitcoin into their treasuries, which may indicate a precursor to large-scale sell-offs.