I think oil is probably getting over extended with a new variant of covid that could slow down winter demand for travel + crude. Also resurgence of flu this year will maybe be bad.
Sometimes risk assets like gold/bitcoin correlate with inflationary inputs like oil/lumber/coffee. Other times some inflationary assets like bitcoin can trade inversely to risk assets in the short term per cathie wood, aka leopard lady. Kind of thinking that implies a broader market correction, but I don't see how. :/