Analyst: Bitcoin Rebound 'Fragile,' Rally Driven by Oil Price Drop Rather Than Strong Buying Pressure

BlockBeats News, May 4th — Macro analyst and Co-Founder of Coin Bureau, Nic Puckrin, expressed in a post that Bitcoin's rebound after breaking through $80,000 recently "appears to be on shaky ground." He pointed out that this rally was primarily driven by a drop in oil prices (Brent crude fell below $110 due to the "Project Freedom" news), rather than strong buying support. If Brent crude were to surge back above $110, Bitcoin would once again face significant downward pressure.

Puckrin believes that if Bitcoin fails to hold above $79,500 today, the likelihood of a sharp rise will diminish. At the same time, he noted that gold has lost momentum after a strong performance in 2025; the safe-haven demand for the US dollar is also weakening as multiple countries worldwide seek to reduce their reliance on dollar-denominated assets.

Regarding the traditional stock market, Puckrin warned that AI trading is becoming overcrowded. One warning sign is industry outsider companies (such as a Japanese toilet manufacturer) "turning to AI" to rescue their stock prices, similar to last year's trend of companies incorporating Bitcoin into their treasuries, which could herald a precursor to large-scale sell-offs.