Deep Tides TechFlow message. On July 29, CoinDesk reported that analysts said that any “slightly dovish” policy signals from the Federal Reserve could push Bitcoin to continue outperforming the market. Current Bitcoin price is holding above $63,000, with gains of about 6% for July so far, while semiconductor stocks have fallen nearly 20% over the same period.

Market data shows traders are divided on the Fed decision on Wednesday. The CME FedWatch tool prices a 70% probability of keeping rates unchanged and a 30% probability of an unexpected 25-basis-point rate hike. A Block Scholes analyst noted that Bitcoin’s correlation with the stock market has weakened, and this round of FOMC meetings may have a smaller impact on crypto than traditional risk assets.