Despite sharp price declines across asset classes, Bitcoin has demonstrated relative resilience over the past week. Since the onset of the recent stress period, Bitcoin is up 10.7%, while the Stoxx 600 has fallen 7.7% and gold has declined 9.8%. In isolation, recent price action may look weak — in context, it tells a different story. What drove the volatility: Markets this week were dominated by the FOMC meeting, which delivered a clear hawkish pause. The Fed did not tighten but signalled a materially reduced willingness to ease, with inflation risks firmly in focus. Policy will remain restrictive until clear ... (full story)