“Digital assets, including bitcoin, tend to become more correlated with stocks during stress periods when most of the investment markets go risk-off,” said Mikkel Morch, director at crypto hedge fund ARK36, in a note to CoinDesk. “Unsurprisingly, then, the crypto markets moved almost in tandem with the stock market following Fed’s Chair Jerome Powell’s press conference in the aftermath of this month’s FOMC meeting.” The Federal Open Market Committee (FOMC) meets eight times a year to discuss monetary policy changes and review economic and financial conditions.
