Fed Rate Hike Looms: Will Bitcoin Take Another Hit?

The Federal Reserve's FOMC meeting today is expected to result in a 25-basis-point rate hike, which has been largely priced in by markets.

This would move the federal funds rate from 3.50%, 3.75% to 3.75%, 4.00%, marking the Fed's first rate hike in three years.

However, traders are looking beyond today's decision and watching for clues about future rate hikes from Chair Kevin Warsh during his press conference at 2:30 PM EDT.

Warsh's comments could signal whether another wave of selling is on the horizon for Bitcoin, which has already fallen below $75,000.