Bitcoin Falls To $43k After Fed FOMC Meeting Report Show Commitment To Decrease Balance Sheet

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As the price of Bitcoin hovers just around $43,000, the cryptocurrency community is buzzing with expectation.  This is due to the sideways price action following Federal Reserve commitment to decrease balance sheet.

Bitcoin and Crypto Market Crash

The price of bitcoin fell below $44,000 shortly after the Federal Reserve’s December FOMC meeting notes re-confirmed efforts to regulate the balance sheet.

After minutes from the Federal Reserve’s December FOMC meeting revealed that the regulator is dedicated to reducing its balance sheet and hiking interest rates in 2022, Bitcoin (BTC) and the wider cryptocurrency market plummeted as stock markets pulled back at the closing bell.

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BTC’s price dropped to $43,000 as stock markets corrected. This triggered a wave of liquidations that totaled $222 million in less than an hour.

The market in bloodbath. Source: Coin360

According to TradingView data, Bitcoin was struck by a wave of selling that pushed the price to an intraday low of $43,717 after bouncing around support near $46,000 for a few days.

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BTC/USD Crash to $43k. Source: TradingView

It is expected that the Fed…

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