FOMC Rate Decision May Have Limited Impact on Bitcoin Amid Weakening Correlation with Nasdaq

K33 Research has released a report suggesting that the upcoming Federal Open Market Committee (FOMC) rate decision may have a limited impact on Bitcoin.

The analysis points to a weakening correlation between Bitcoin and traditional risk assets, particularly the Nasdaq. According to K33's head of research, Vetle Lunde, this divergence is notable because the two assets have historically moved in tandem during periods of macroeconomic uncertainty.

Lunde stated that the correlation between Bitcoin and the Nasdaq is currently near its lowest levels in years, suggesting that the linkage is likely to weaken further. This decoupling implies that Bitcoin may be less sensitive to the FOMC's interest rate decision than it has been in the past.