๐จ BITCOIN IS GOING SOLO BEFORE THE FED. ๐
Before the Fed's interest rate decision, BTC is separating from traditional assets.
๐ Short-term correlation:
โข BTC โ DXY: +0.08 | 30D: -0.54
โข BTC โ S&P 500: 0.43 | yesterday: 0.75
โข BTC โ Nasdaq: 0.30 | 30D: 0.60
โข BTC โ Gold: 0.28 | 30D: 0.69
๐ Market outlook:
Whatโs notable isnโt whether BTC is up or downโitโs that BTC is gradually losing its link to the traditional macro backdrop right before the FOMC.
Part of traders' attention is shifting to the CLARITY Act after the bill failed to pass the procedural vote in the Senate on Monday.
๐ฅ BTC IS TRADING ITS OWN STORY NOW.
Tonight, the Fed will make a decisionโwill BTC keep following its โown story,โ or will correlation with macro return?
DYOR. Not investment advice.
#FedRateWatch #bitcoin #fomc
$BTC
Before the Fed's interest rate decision, BTC is separating from traditional assets.
๐ Short-term correlation:
โข BTC โ DXY: +0.08 | 30D: -0.54
โข BTC โ S&P 500: 0.43 | yesterday: 0.75
โข BTC โ Nasdaq: 0.30 | 30D: 0.60
โข BTC โ Gold: 0.28 | 30D: 0.69
๐ Market outlook:
Whatโs notable isnโt whether BTC is up or downโitโs that BTC is gradually losing its link to the traditional macro backdrop right before the FOMC.
Part of traders' attention is shifting to the CLARITY Act after the bill failed to pass the procedural vote in the Senate on Monday.
๐ฅ BTC IS TRADING ITS OWN STORY NOW.
Tonight, the Fed will make a decisionโwill BTC keep following its โown story,โ or will correlation with macro return?
DYOR. Not investment advice.
#FedRateWatch #bitcoin #fomc
$BTC
