Bitcoin and Cryptocurrencies Experience Volatility Amidst Fed Liquidity Injections.

Bitcoin is becoming less correlated to traditional markets after the US Federal Reserve provided emergency liquidity to banks, causing a shift in the trajectory of US Treasuries. Bitcoin appears to be agnostic to the movement and its price has been hovering around $28,000 for the past week. Investors are reducing their cash positions and investing in money market funds which offer a much higher return. Bitcoin derivatives traders did not fold under the FUD, and the 25% skew ratio is currently at -5, indicating a bullish indicator. However, as long as regulatory uncertainty surrounds major crypto exchanges, Bitcoin is unlikely to break above $30,000.