After the Federal Open Market Committee (FOMC) statement and presser with Fed Chairman Jerome Powell on June 14 announced that the central bank will stop rate hikes for June, the cryptocurrency market has remained turbulent.

This action met investors' expectations, but the bullish momentum in the #cryptocurrency market hasn't yet materialised. Powell added that at least two such rate increases would be required in the future.

After the #FOMC statement, the price of bitcoin reversed to a 24-hour low of $25,791, after rising earlier in the day and trading above $26,000. According to certain analysts, the current state of the #BTC #derivatives data makes a decline to $25,000 inevitable.