Bitcoin (BTC-USD) spikes to as high as $49.3K after the Federal Reserve's move to double the pace of its monthly asset purchases. Ethereum (ETH-USD), the second largest crypto by market cap, also jumped to just below the $4K key level amid a more hawkish Fed. The global crypto market cap climbs 4.3% to 2.23T, according to data from CoinMarketCap. Of course, U.S. equities (SP500) reversed to net positive territory after the taper news; both the short and long end of the U.S. Treasury yield curve rise as well. Still, the S&P 500 (SP500) and some of the largest cryptos in the world, including Solana (SOL-USD), Cardano (ADA-USD) and Binance Coin (BNB-USD), trade in net negative territory, as seen in the chart below. In wake up rising volatility across risk assets amid record high valuations and a more hawkish Fed, investors appear to be bidding bonds (NASDAQ:TLT) (NYSEARCA:ZROZ) more so than crypto in
