Bitcoin slides 2% after U.S. close while Korea’s Kospi plunges 10%

"BTC trades with equities when the stress is macro and [interest] rates-driven, and decouples when the stress is idiosyncratic to the equity market. An earnings-and-capital-expenditure debate is precisely that, so on this data the correlation is overstated," analysts at Bitfinex said in a note to CoinDesk.

Looking ahead, Wednesday and Thursday could significantly move the needle and add volatility across asset classes. The Fed decides interest rates on Wednesday, while Thursday brings key data.

"The Fed decides rates Wednesday, with Core PCE and GDP following immediately Thursday. That makes Wednesday–Thursday the week's highest-volatility window for U.S. rate repricing," Dessislava Ianeva, analyst at Nexo, said.