The catalyst
Bitcoin, Ethereum, XRP, Dogecoin Decline as Oil Prices Push Higher: Analyst Says 'Pullback Isn't the End of Anything,' Rather the 'Next Opportunity'
The thesis
Bitcoin, Ethereum, XRP and Dogecoin plunged on October 12 as geopolitical uncertainty and higher oil prices pressured crypto markets ahead of upcoming CPI data. MSTR is the closest listed Bitcoin proxy.