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Oil prices jump above $112, Bitcoin falls 4.2% amid inflation and growth concerns ahead of Fed decision.

Market News
22 Oct 2026
CryptoTicker
View Source
Bearish
Oil prices jump above $112, Bitcoin falls 4.2% amid inflation and growth concerns ahead of Fed decision.

On October 22, 2026, Brent crude oil surged to $112 per barrel following attacks on Saudi oil targets, triggering a broad sell-off in crypto and tech stocks. Bitcoin dropped 4.2%, moving in line with the Nasdaq's 2.55% decline, challenging its role as an inflation hedge. The market reaction stemmed from inflation fears linked to rising energy costs, but falling US Treasury yields suggested growth concerns might be driving the sell-off. The upcoming US Federal Reserve meeting on October 28 will clarify whether the oil price spike signals persistent inflation or economic slowdown, influencing crypto market direction.

Regarding oil prices and Bitcoin's inflation hedge debate, here is Pluang's market snapshot as of Oct 23, 2026 04:03 WIB: Among 50 major cryptocurrencies, only 4 rose while 45 fell. EOS gained 8.13% to Rp12,649, contrasting with SAND's 8.71% drop to Rp966 and AVAX's 7.77% decline to Rp163,603, showing a broad sell-off in crypto despite some buying interest.

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