Bitcoin dips below $78K as momentum wanes ahead of US inflation data

Bitcoin (BTC) fell to an intraday low of $77,688 on September 10, after failing to hold above the $78,000 level. The move continued a pullback that began after the September 3 peak near $82,280.

Technical outlook

On the daily chart, the MACD produced a bearish crossover, with the MACD line at 2,357 below the signal line at 2,956 and a negative histogram of –598. The RSI slipped to 57.24 from a near‑overbought reading, indicating cooling bullish momentum. The 4‑hour Aroon indicator showed Aroon Down at 57.14% versus Aroon Up at 21.43%, reflecting a pattern of lower highs.

Price action on the 4‑hour chart formed lower highs and broke below the Supertrend level around $78,203. Resistance is seen near $80,151, where recent intraday highs and the previous Supertrend barrier converge. Support clusters are identified around $77,300‑$77,600, with a deeper Fibonacci‑based support near $72,477.

Market context

Traders are awaiting U.S. producer and consumer inflation reports ahead of the Federal Reserve’s September 15‑16 meeting. Elevated Treasury yields—10‑year at roughly 4.86% and 30‑year near 5.31%—are reducing demand for non‑yielding assets such as Bitcoin. Oil prices above $100 per barrel add to inflation concerns, potentially influencing Fed policy decisions.

Liquidity and trader sentiment

CoinGlass’s one‑week liquidation heatmap shows a concentration of leveraged positions just below the current price, particularly between $77,300 and $77,600. A move into this band could trigger long liquidations or attract buyers seeking a liquidity sweep. Above price, notable short‑liquidation clusters sit near $80,500 and $81,800; breaking above $80,000 could force short covers and propel the price toward those levels.

Analyst Daan Crypto Trades noted that Bitcoin has recorded five drawdowns of 4%‑6% over the past three weeks, keeping the asset within a broader $76,000‑$81,000 range. He highlighted increased volatility without a clear directional trend, suggesting traders wait for a confirmed breakout before assuming a larger move.