Bitcoin falls to a one-week low as another Fed rate hike approaches.

Bitcoin fell to a more than one-week low, buffeted by market trepidation ahead of a projected Federal Reserve interest-rate hike, as well as tighter regulatory scrutiny of the cryptocurrency sector.

On Tuesday, the largest token fell as high as 6.2 percent and was trading at roughly $20,924 as of 10:02 a.m. in New York. MVIS CryptoCompare Digital Assets 100 gauge fell more than 5%, while recent high fliers Polygon and Ether fell almost 10%. Equity markets in the United States and Europe were generally down.

The drop has dampened expectations for a durable Bitcoin recovery, returning the token to a trading range of around $19,000 to $22,000.Risk appetite is generally on the back foot before an expected 75 basis-point Fed rate increase Wednesday, part of a tightening cycle that’s sapping liquidity.