How does energy geopolitics drive the crypto asset cycle? The key link between macro liquidity and Bitcoin

【ChainWen】 Recently, industry insiders have mentioned an interesting economic logic chain: under the geopolitical landscape, adjustments in energy supply directly influence global oil prices, which in turn transmit to inflation expectations. When oil prices are deliberately suppressed and inflation is contained, central banks have more ample liquidity to deploy—creating an excellent environment for the rise of risk assets such as stocks, commodities, and cryptocurrencies.

Under this “loose liquidity + low inflation expectation” combination, an increase in nominal GDP growth will drive risk asset valuation expansion. Bitcoin, as an alternative asset outside traditional finance, along with high-quality projects within the entire crypto ecosystem, are believed to stand to benefit. Some voices are optimistic about the performance in 2026, recommending a focus on Bitcoin and mainstream crypto assets for allocation opportunities. It is worth noting that the market narrative for privacy assets (such as ZEC and other privacy coins) is also heating up, potentially becoming the next highlight. The underlying logic is: macro liquidity easing → risk appetite rising → new narratives breaking through.