BTC falls below $76K amid FOMC caution, $40B wiped from market cap

Bitcoin has fallen below the $76,000 mark amid heightened market caution ahead of the Federal Open Market Committee (FOMC) interest rate decision scheduled for Wednesday, according to an analysis by BeInCrypto. As investors focus on risk management, $40 billion has been wiped from the total cryptocurrency market capitalization in a single day. The CME FedWatch Tool indicates a 100% probability that interest rates will be held between 3.50% and 3.75% at this meeting. Market attention is focused less on the rate hold itself and more on the tone of Fed Chair Jerome Powell's final remarks of his term, along with any signals of a policy handover to Chair-nominee Kevin Warsh. Experts suggest that the uncertainty surrounding this policy transition is dampening investor sentiment.