This. Bitcoin is strongly correlated with traditional assets (stocks in particular), and will continue to be until the USD faces significant inflation problems. The Fed's interest rates and QE basically direct the stock market -- just look at this chart of central bank assets vs S&P 500.

Sooner or later the Fed is going to have to pivot. Housing, stocks, and Treasury dept interest payments will demand it. It's only a question of how much pain the Fed is going to let the market endure, and what's going to "break" that triggers their policy change.