Bitcoin Slips Below $84K as Gold Remains Under Pressure

The value of Bitcoin has fallen below $84,000, indicating potential profit-taking and buyer exhaustion. This drop comes after a brief surge to nearly $87,000 on Monday. The price of gold also remains under pressure, trading below $4,300 due to its technical weakness.

Market sentiment is being weighed down by the probability of another interest rate hike from the Federal Reserve in October, which has been priced in at approximately 66%.

The current interest rate environment, with Treasury yields reaching levels not seen in two decades, is also contributing to market uncertainty. Oil prices remain elevated due to ongoing tensions in the Middle East.