This is an opinion editorial by Francois Moreau, a fintech writer and financial risk analyst based out of Paris.

The Fed’s interest rate spikes are spooking the market, and speculative assets like bitcoin are amongst the hardest hit. Although once-touted as a non-correlative asset compared to equity markets, bitcoin’s beta is ultimately well past one as it falls at a rate nearly twice that of the struggling stock market.

But, recently, it appears that the coin is stagnating below $20,000. In this apparent consolidation, some fear that it may simply be butting up against a previous support floor and that any additional bad bitcoin news will cause a further drop.

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