Oil's price is independent of other assets because it is a commodity that is used for its own purposes. If it gets really high, people have to pay more money at the pump for their fuel. People working in the oil industry will become rich. Maybe, just maybe, some of those people might buy bitcoin. But highly unlikely.

There is no correlation nor relationship between oil, gold or bitcoin. High oil does not mean high gold. Some abstract theory may connect them but there is no evidence. Oil is oil, bitcoin is bitcoin. That's all there is.

And what's your theory?