‘Anything remotely dovish’ from Fed could be good for bitcoin, says analyst
Traders are divided on whether the Fed will hike rates, but analysts said crypto may be less exposed than AI-driven tech stocks.
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Summary
- Bitcoin has held steady above $63,000 and is up about 6% for the month even as AI-linked tech and semiconductor stocks have slumped.
- Traders are split ahead of Wednesday’s Federal Reserve decision, with markets pricing roughly a 30 percent chance of a rate hike.
- Analysts say bitcoin’s correlation with equities has weakened, suggesting this week’s Fed meeting may have a smaller impact on the cryptocurrency than on traditional risk assets.
