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Fed comments, bond yields, and $BTC reaction
Interesting to see how $BTC is holding up today despite some of the hawkish-leaning Fed commentary yesterday and the subsequent bounce in the 10-year. The correlation seems to be weakening slightly, or perhaps the market is already pricing in a slower pace of cuts. Keeping an eye on $DXY movement today for further clues; a stronger dollar usually isn't a friend to crypto.
1 comments · 3 points
I'm seeing similar behavior. It's hard to tell if this is a temporary decoupling or a more sustained shift in correlation dynamics. The DXY will be key today.