$BTC Historical data shows Bitcoin often gains 16–24% following major oil price spikes.

BTC is currently trading near $102,800, down from last week’s high of $110,200.

A similar rebound could push Bitcoin to $119,200 by June 21, based on past trends.

Bitcoin Eyes $119K as Oil Surge Sets Up Familiar Pattern

Bitcoin’s price could be poised for a breakout to $119,000 if historical trends following oil price rallies hold. Data shows that Bitcoin has rallied between 16% and 24% within days of sharp oil price spikes, despite initially reacting negatively to geopolitical stress.

BTC Drops During Oil Spike—Then Rebounds Strongly

During the latest rally, WTI crude oil surged 19%, climbing from $64.80 to $77 per barrel between Wednesday and Friday. Bitcoin, in turn, dropped from $110,200 to $102,800, reflecting its risk-on nature during uncertain macroeconomic periods.

Yet, historical data reveals a pattern: BTC often rebounds sharply in the days following oil-driven declines.