K33 Expects Limited Bitcoin Impact From July FOMC Rate Decision

Crypto research and brokerage firm K33 expects this week’s Federal Open Market Committee interest-rate decision to have a limited impact on the Bitcoin market.

In a report, K33 said the Nasdaq entered July with strong upward momentum and crowded positioning, while Bitcoin has continued to trade sideways with volatility near multiyear lows. That suggests the correlation between the two assets may weaken.

CoinDesk reported on July 28 that K33 Head of Research Vetle Lunde said the latest FOMC meeting may have a limited effect on Bitcoin prices compared with periods when monetary-policy uncertainty was higher in the past.