Bitcoin Dominance Soars to 4-Year High Ahead of FOMC, Analysts Warn of Potential Volatility

According to ChainCatcher, as reported by CoinDesk, Bitcoin (BTC) dominance surpassed 65% ahead of the Federal Reserve's Federal Open Market Committee (FOMC) meeting, reaching a new high since January 2021, indicating a strong risk-averse sentiment among investors.

Analyst Joel Kruger believes the market is awaiting key catalysts such as the FOMC decision. K33 Research Director Vetle Lunde predicts that given Bitcoin's recent extremely low volatility, significant price fluctuations may occur after the FOMC meeting. He points out that the current negative perpetual contract funding rate might provide a buying opportunity for investors.