Investing.com - In anticipation of the release of key inflation indicators and the US Federal Reserve's rate decision this Wednesday, global markets are on edge, and this is especially true for the most volatile assets such as Bitcoin, Bloomberg writes.

The 30-day correlation between Bitcoin and the 10-year US Treasury yield is -53, which is one of the most negative readings since 2010, as it suggests Bitcoin is moving in the opposite direction of bond yields.

The latter may be particularly strongly influenced by inflation data and the Fed rate forecast on Wednesday. There is a risk that Bitcoin will fall along with Treasuries.

On Tuesday, the token fell 3.2% to a one-week low and is hovering at $67,780 on the London exchange. Other tokens such as ETH/USD and DOGE/USD also suffered losses.

In mid-March, Bitcoin traded at a peak of $73,798 due to the influx of funds into specialized US exchange-traded funds. But it has struggled to make new highs over the past three months, and the lack of progress is alarming as even significant inflows into the ‌BTC-ETF have so far failed to turn the tide. According to experts, the next 36 hours will be decisive for this asset.

BTC-ETFs have received $15.6 billion in flows since their launch in January, but $65 million was withdrawn from these funds this Monday.