Bitcoin's dominance soared to a four-year high ahead of the FOMC meeting, with analysts warning of sharp volatility

Before the Federal Reserve Open Market Committee (FOMC) meeting, Bitcoin's dominance exceeded 65%, setting a new high since January 2021, indicating a strong risk aversion.
Analyst Joel Kruger believes the market is waiting for key catalysts such as the FOMC decision. Vetle Lunde, head of research at K33, predicts significant price volatility after the FOMC meeting given bitcoin's recent extremely low volatility. He pointed out that the current negative perpetual contract funding rate could provide investors with buying opportunities.