Bitcoin (BTC) checked losses while United States equities drifted down on June 22 as the Federal Reserve kept quiet on monetary policy.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewPowell keeps quiet on Fed moves
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $20,500 at the June 22 Wall Street open.
The pair had wicked below the $20,000 mark overnight before recovering, still down from the previous day's $21,700 highs.
Markets braced for last-minute surprises from testimony to Congress by Fed Chair Jerome Powell on the day, this ultimately providing no fresh insight into the central bank's approach to taming rampant inflation.
"We anticipate that ongoing rate increases will be appropriate; the pace of those changes will continue to depend on the incoming data and the evolving outlook for the economy," a copy of Powell's testimony released before his appearance read.
