U.S. crude output just hit a record high, yet oil prices are heading toward their worst year since the pandemic. The supply surge is pushing prices lower, creating a fascinating market disconnect—more barrels pumped, fewer dollars earned per barrel. This dynamic mirrors the broader macro environment affecting crypto markets: when energy prices crash, it often signals deflationary pressures or stagflation concerns that reshape investor positioning across all asset classes. Energy economics and crypto cycles remain interconnected through macro liquidity flows.