Bitcoin Holds Steady at $78,500 Amid Rate-Hike Fears

Bitcoin has stabilized around $78,500 after experiencing a significant surge last week. The cryptocurrency's rally slowed down this week due to various market factors, including rising international oil prices and weak stock markets.

The Federal Reserve Chair Kevin Warsh's hawkish remarks have also increased the likelihood of a rate hike in September, which is contributing to the slowdown. As a result, Bitcoin has lost some momentum from its peak above $80,000.

Despite this, other cryptocurrencies such as Ether, Binance Coin, Ripple, and Solana are experiencing slight gains, with Ether trading at $2,466, up 0.91% from 24 hours earlier.