Bitcoin and oil: questions to ask before trusting a correlation

Editorial correction, November 10, 2026: the earlier headline implied a 2025 data analysis that was not provided. This post now states the evidence needed to evaluate that claim. Bitcoin mining uses electricity, but that does not establish a stable relationship between Bitcoin prices and crude oil. A claim about a measured correlation needs a specified dataset, dates, method and results. This article does not present a 2025 backtest or a current coefficient. A reproducible comparison should identify the oil instrument, align observation times and trading days, compare appropriately defined returns, and show how results change across windows. Correlation does not establish causation or a profitable strategy.