20 June 2026
Bitcoin Drops Below $43k After Fed FOMC Meeting
The leading Cryptocurrency Bitcoin lost the crucial $44,000 level, and it fell below $43,000 earlier today. Bitcoin price began to fall as the news came out that the Federal Reserve’s December FOMC session was set to re-confirm plans to decrease its balance sheet and increase interest rates in 2022.
The news also had an impact on the stock market, leading to corrections, with Bitcoin losing $330 of its market value in 30 minutes.
According to CoinMarketCap, all the top 10 Cryptocurrencies are in red except stable coins.
Looking at the current scenario, we could soon expect a bear market for the better part of 2022. Although, there could be a bigger correction in the near term.
Today, Bitcoin fell below the horizontal support line of the descending triangle. As Bitcoin lost the support at $45,645, it became crucial for bears as BTC escaped from the confines of the governing chart pattern.
Currently, the target of the descending triangle chart pattern is $40,011 and, if Bitcoin's price continued its corrections, it would further drop just above $40,000.
The entry of the Moving Average Convergence Divergence Indicator (MACD) into the negative region confirms the bearish outlook. Yesterday, there was a call to sell BTC when the 12-four-hour exponential moving average (EMA) crossed below the 26 EMA suggesting that the market momentum had flipped red.
Additionally, the entry of the RSI into the oversold zone indicates that bears are in control of the Bitcoin price.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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