Bitcoin faces a new selloff if oil holds $70 after spike and the Fed turns less patient

Oil isn’t supposed to be the story in 2026. The macro narrative powering “cuts soon, liquidity soon” trades relies on disinflation staying intact.

However, Brent jumped 4.35% to $70.35 on Feb. 18, and WTI surged 4.59% to $65.19 after headlines revived the risk of a US-Iran conflict and Russia-Ukraine talks ended without breakthroughs.

This isn’t just an “oil traders” print. It’s a rates print, and by extension, a Bitcoin print.

Bitcoin doesn’t trade barrels. It trades the path of financial…