Bitcoin fell below $77,000 on Sept. 10, extending its retreat from the $80,000 area as hotter U.S. inflation, rising Treasury yields and leveraged liquidations hit the crypto market. BTC drop
Bitcoin fell below $77,000 on Sept. 10, extending its retreat from the $80,000 area as hotter U.S. inflation, rising Treasury yields and leveraged liquidations hit the crypto market.
BTC dropped as low as roughly $76,650 during the session before stabilizing near $77,000. The move followed August producer inflation of 5.4% year over year, which pushed traders to increase bets on another Federal Reserve rate hike next week. Reuters put the probability near 70%, up from around 65% before the PPI release.
The selloff also triggered approximately $562 million in crypto liquidations, with Bitcoin contributing to the wave as long positions were forced out after the $78,000 support area failed.
$75K Becomes Bitcoin’s Next Major TestThe technical picture weakened quickly after Bitcoin failed to hold $78,000.
Sept. 10 historical data show BTC closing near $77,188, down about 1.4% on the day after trading as high as $78,541 and as low as $76,705.
Fresh technical analysis now places $75,000 as the first major downside support, followed by the 200-day moving average near $72,500 if sellers remain in control. Resistance sits around $78,000 first, with $81,000 above that.
That makes the current setup a direct continuation of Bitcoin’s repeated failures around $80,000. Coinpaper recently highlighted how radically the market has changed since BTC traded at $8, with U.S. spot ETFs now holding more than $103 billion in assets.
But those ETFs are no longer providing the same short-term support.
ETF Flows Turn Negative AgainU.S. spot Bitcoin ETFs recorded about $120.2 million in net outflows on Sept. 9, following roughly $46.6 million of withdrawals on Sept. 8.
That puts the two-day total near $167 million, marking the first back-to-back ETF outflow sessions since mid-August. ARKB led the Sept. 9 withdrawals with about $78 million, while BlackRock’s IBIT lost roughly $19.5 million.
The reversal is notable because Bitcoin ETFs had attracted more than $1 billion over three trading days shortly before the pullback.
For investors comparing ETF exposure with direct ownership, our recent Bitcoin ETF guide explains why these fund flows have become an increasingly important measure of institutional demand.
CPI Could Decide Between $75K and a ReboundThe next major catalyst is U.S. CPI.
Treasury yields have already climbed sharply, with the 10-year reaching roughly 4.93%–4.95% on Sept. 10 as oil above $100 and persistent inflation pushed rate expectations higher.
Bitcoin therefore enters CPI with a simple technical map.
A defense of $75,000 could allow BTC to reclaim $78,000 and make another attempt at $80,000–$81,000. A decisive break below $75,000 would expose the $72,500 200-day moving average.
The bullish golden cross that appeared this week has not disappeared, but in the short term, inflation and liquidity are controlling the market.
For now, Bitcoin’s next move depends less on the golden cross and more on whether buyers are willing to defend $75K while yields approach 5%.
