Bitcoin's Price Action Against the US Central Bank

The timing of yesterday's spikes in Bitcoin's price and volume suggest strongly that it did respond at least initially to the jobs report. Crypto Markets might also be making an early move ahead of today's more highly publicized US Central Bank interest rate decision. But most observers think that unless the central bank surprises, which is of course not expected, today's action is already priced in. Correlations between crypto and equities have weakened this year, with the one-strong correlation of 0.8 between Bitcoin and the S&P 500 declining to a relatively benign current correlation of just 0.27.