Bitcoin is now front-running the Fed rather than reacting to it. ETFs are the cause

Bitcoin's correlation with global central bank easing has turned strongly negative since 2024, suggesting BTC now leads rather than lags monetary policy signals. What to know : Bitcoin may no longer move in step with Federal Reserve policy, as spot bitcoin ETFs have shifted price dynamics to institutional forward-looking positioning. Bitcoin's correlation with global central bank easing has turned strongly negative since 2024, suggesting BTC now leads rather than lags monetary policy signals. Crypto-native drivers like policy progress and institutional flows may matter more than the direction of monetary easing, allowing bitcoin to price in central bank pivots earlier than traditional markets.