Bitcoin Tumbles Below $76K Amid Rate-Hike Anxiety

Bitcoin's price dropped below $76,000 on Tuesday, wiping out its gains from Monday and hitting a nearly four-week low of $75,560.

The decline came ahead of the Federal Open Market Committee (FOMC) meeting, where officials are expected to deliver a quarter-percentage-point rate hike.

Vik Sharma, CEO of Cake Wallet, believes that the rate hike will have little impact on Bitcoin's long-term thesis, saying 'Higher rates can squeeze corporate profits and weigh on stocks. Bitcoin has no earnings to miss and no central bank controlling its supply.'

The Crypto Fear and Greed Index sank from 81 to 67 by Sept. 15, indicating a shift from extreme greed to caution.