Bitcoin and other cryptocurrencies fell slightly Wednesday as markets await a key Federal Reserve decision that is likely to cause strong swings.

Bitcoin has fallen less than 1 percent in the past 24 hours to below $20,500, hovering around that level after a rally a week ago took it out of the $19,000 to $20,000 range it had been in for about two months.

The correlation between cryptocurrencies and stocks has intensified this year amid a difficult macroeconomic environment characterized by high inflation, rising interest rates and the risk of recession.

The Federal Reserve’s hawkish stance on interest rates has made yields on risky bets such as digital assets and stocks less attractive, crashing token prices as well as indices such as the Dow Jones Industrial Average and S&P 500 this year.

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