Fed Rate Hike Bets Weigh on Gold, Silver, and Bitcoin Prices

The price of Bitcoin (BTC) has been stuck in a tight range between $60,000 and $70,000 after retreating from its recent highs.

A potential rate hike by the Federal Reserve is also affecting gold and silver prices, with some signs of a bottoming pattern emerging but a sharp rally seems unlikely in the near term.

The overheated sentiment in the US equity market has led to a divergence between stock prices and fundamentals, making it difficult for the Fed to signal rate cuts and potentially leading to further rate hikes.

The Fed's decision to hold rates at 3.50%-3.75% during the July FOMC meeting is being closely watched, with some market participants betting on a rate hike in September.