Petrolio a 116 dollari: perché questo shock macroeconomico potrebbe innescare una riduzione del rischio e una diminuzione della leva finanziaria per il Bitcoin

[kim]

Brent crude punched through $116 a barrel on March 30, 2026 – a 60% monthly surge driven by escalating US-Iran tensions after Tehran accused Washington of preparing an invasion, compounding Houthi strike disruptions, and Bitcoin is now sitting in the crosshairs of the resulting institutional risk-off rotation.

The oil price spike is not hitting crypto directly; it’s hitting it through three compounding channels: inflation re-acceleration, delayed Fed rate cuts, and a geopolitical risk premium that is draining leveraged long exposure across every risk asset class.

Bitcoin dropped to weekly lows between $63,000 and $65,700, over $500 million in derivatives liquidations hit the tape, and 84% of that came from long positions.Source:

The Fear & Greed Index collapsed to 28 – Extreme Fear – while a record $14 billion options expiry amplified the volatility.Bitcoin Faces Structural Deleveraging as Oil-Driven Inflation Rewrites the Fed Playbook

$63,000 is the line Bitcoin cannot afford to lose.

That level has capped the downside through the prior 2 macro shock episodes. The 200-day moving average sits just below at $62,400.

A close beneath it would be the first since the October 2025 rally began and would likely trigger a second wave of systematic deleveraging from quant funds running momentum strategies. Resistance above is layered at $67,500 and $71,000, both former support zones that flipped during the February selloff.Bitcoin (BTC)24h7d30d1yAll time

The oil correlation matters more than usual right now. Binance Research puts the Bitcoin-WTI correlation near zero across most market regimes.

The 30-day rolling correlation currently sits at just 0.15. But that changes during extreme disruption events. The Strait of Hormuz is flowing at roughly 4 million barrels per day against a normal 20 million. That is not a tail risk. That is an active structural supply shock, exactly the kind that produces temporary correlation spikes.

If US-Iran tensions de-escalate and Hormuz flows normalize, Brent retreats below $100 and the Fed signals patience at its April 1 to 2 meeting. Bitcoin reclaims $67,500, BlackRock’s IBIT builds on its $225.2 million inflow during the dip, and institutional rotation flips back into accumulation mode.

If tensions persist without full escalation, Brent holds $110 to $116 and the Fed stays hawkish through Q2. Bitcoin grinds between $63,000 and $68,000 with elevated volatility, ETF flows stay choppy, and mining costs for operators like Marathon Digital rise 15 to 25%.

“The United States of America is in serious discussions with A NEW, AND MORE REASONABLE, REGIME to end our Military Operations in Iran.” – President Donald J. Trump — The White House (@WhiteHouse)

A full Hormuz blockade is the scenario nobody wants to price. Oil above $130, 10-year Treasury yields breaking above 5%, and the Fed forced to choose between fighting inflation and supporting growth.

That combination could send Bitcoin to $55,000 to $57,000 in a full risk-off liquidation wave, mirroring February 2022 when WTI hit $115 and BTC fell from $45,000 to $39,000 in days.

The inflation channel is what most traders are underweighting. Sustained oil above $100 does not just pressure sentiment. It mechanically delays rate cuts.

Bitcoin’s slide below $67,000 alongside rising Treasury yields already showed how directly that linkage bites. BTC’s 0.9 correlation to the IGV tech index means it trades like a rate-sensitive growth asset in the short run, not an inflation hedge.

Watch the Fed’s April 1 to 2 meeting. Any language signaling a longer hold is the catalyst for the next leg down. Congressional votes on Iran sanctions expected mid-April carry equal weight. Further Hormuz disruption sends another shock through energy markets and straight into institutional risk appetite.
source: https://www.tradingview.com/news/cryptonews:00889900d094b:0-oil-at-116-why-this-macro-shock-could-trigger-a-bitcoin-risk-off-deleveraging/