Bitcoin is still coorelating with stocks, which will likely continue until Bitcoin breaks out of this descending wedge:
This descending wedge has been going on since mid November. It will break out, and decouple from stocks. We just don’t know when. Neutral ATM believes Bitcoin will see a slight dump below $35K after the FOMC meeting. We shall see.
Just remember, long term view is what really matters. See these two historical charts on the USD value vs Bitcoin value up to early 2020. Today, the disparity is almost 10 times greater than early 2020: