Oil prices have surged to $105 per barrel, marking their highest level in nearly four years. Historically, such price levels have coincided with significant Bitcoin corrections, with past instances showing a 14% to 27% sell-off within weeks. However, the correlation between oil prices and Bitcoin remains uncertain, as other factors like the Mt. Gox liquidation and the Terra-Luna collapse have also influenced crypto bear markets. In 2014 and 2022, similar oil price spikes led to notable Bitcoin downturns, but these events were accompanied by geopolitical tensions and market-specific crises. While $105 oil is often viewed as a bearish signal for Bitcoin, the limited historical occurrences suggest that attributing Bitcoin's potential crash solely to oil prices may be overly simplistic.