The Fed is expected to hike rates by 50 basis points , which would be the first half point rise in 22 years.
Many central banks outside of the U.S., particularly in emerging markets, have already started to raise interest rates.
The Fed meeting could be a source of rising volatility, according to some analysts.
Bitcoin has been roughly flat over the past week, struggling below $40,000, which is the midpoint of a three-month price range.
So far, profit taking among long-term holders is occurring at the most significant rate in bitcoin’s history, according to Glassnode data.
For short-term holders, realized losses are much worse.
Currently, about 70% of all BTC holders are in profit .
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