Oil Surges to $115 as Bitcoin Hits $69,550, Triggering $276 Million in Short Liquidations

Energy markets have seen a dramatic shift as West Texas Intermediate (WTI) crude oil reached $115 per barrel, supported by a nearly 40% surge in US gasoline prices since late February. Simultaneously, Bitcoin briefly touched the $69,550 level, triggering a massive $276 million in short-seller liquidations. Despite the upward momentum, the leading cryptocurrency failed to break through a key technical resistance level for the sixth consecutive time. These developments challenge previous strategic bets against oil, as traditional energy markets display unexpected resilience. Analysts are closely monitoring whether digital assets can truly sustain a "decoupling" narrative amid persistent energy inflation. This price action underscores heightened volatility and shifting sentiment across both commodity and crypto derivative markets.