I would expect the opposite: fed rate down = Bitcoin up. Conventionally, low interest rate = more people borrow = more cash to spend (e.g. on Bitcoin) & USD weakens due to supply rise
By contrast, fed rate rise = more people save in USD, fewer loans, keeping USD supply (and therefore inflation) low, less money available to buy crypto with.
In summary, the fed has a lever on USD/BTC (fed rate up = bearish for Bitcoin in USD, fed rate down = bullish for Bitcoin in USD).
