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OIL is absolutely ripping...
For the first time in years.
And it has a very high correlation to Bitcoin and the PMI.
In fact, there has never been a period in Bitcoins history where it has not followed OIL.
To add to that, both of these link to the PMI.
Yes, there is a war happening and that effects the price of OIL... but what are the narratives for all the other times? There will always be one.
The fact is that OIL performs well in times of economic expansion as it is required for almost everything to do with development and industry.
And Bitcoin performs well in expansion because it is barometer for economic and liquidity health.
Whenever OIL is in an uptrend, PMI is in expansion and Bitcoin is in an uptrend.
Every single time.