Rising oil prices will negatively affect the economy because almost all economic activities such as production, transportation...require oil and when oil prices increase. That means inflation will increase, prices of goods will increase, cost of living will increase...The economy will slow down and lead to a series of stagnant conditions, including financial markets, especially speculative markets will be severely affected. That's why bitcoin dumped along with the stock market when the Russia-Ukraine war broke out.

I don't know if this time is different, but if the world still sees bitcoin as just a speculative asset, I'm not optimistic if the war gets more serious and oil prices go higher.