Bitcoin Diverges from Dollar Index Ahead of Fed Decision

Bitcoin's price has broken away from its correlation with the Dollar Index, a measure of the greenback's value against a basket of major currencies. The correlation coefficient, which measures the strength of the relationship between two assets, has fallen to 0.6 from 0.8. This divergence suggests that investors are reevaluating their bets on the US dollar ahead of the Federal Reserve's interest rate decision.