Bitcoin's dominance soared to a four-year high ahead of the FOMC, analysts warn of potential volatility

ChainCatcher news, according to CoinDesk, ahead of the Federal Open Market Committee (FOMC) meeting, Bitcoin (BTC) dominance has surpassed 65%, reaching a new high since January 2021, indicating strong risk-off sentiment.

Analyst Joel Kruger believes the market is waiting for key catalysts such as the FOMC decision. K33 research director Vetle Lunde predicts that due to Bitcoin's extremely low volatility recently, significant price fluctuations may occur after the FOMC meeting. He noted that the current negative perpetual contract funding rate may provide a buying opportunity for investors.