Bitcoin's resilience despite the oil shock is notable, but I’d caution against downplaying macro risks. A prolonged Strait of Hormuz disruption (like the one covered here) could spill into broader risk appetite, testing BTC’s decoupling thesis. ETF flows are strong, but oil-driven inflation may force Fed hands.

https://theboard.world/articles/strait-of-hormuz-oil-disruption-price-volatility