Schiff Warns Bitcoin May Stall at $65K Amid Fed Rate Hike Odds Decline

Longtime Bitcoin critic Peter Schiff is warning that the cryptocurrency's price may struggle to extend gains beyond $65,000. He claims this level represents an important resistance zone and argues that downside risks remain greater than potential upside.

Schiff pointed out that strong gold and silver prices continue to support his longstanding argument that precious metals are a better store of value than Bitcoin.

The Federal Reserve's rate hike odds have fallen, providing a more supportive macro backdrop for Bitcoin and other risk assets. Goldman Sachs chief economist Jan Hatzius stated that a September rate increase appears unlikely due to weaker employment growth, softer consumer spending, and moderating inflation.