Bitcoin Slides Below $78,000 as Inflation Data and ETF Outflows Pressure Market

Bitcoin (BTC) dropped below $78,000 on Sept. 10, trading around $77,278 after an intraday low of $76,676. The decline came as U.S. producer price inflation ran hotter than expected and spot Bitcoin ETFs recorded net outflows, adding pressure ahead of the Federal Reserve’s September policy meeting.

Key price and technical levels

• Daily price: $77,278 (‑1.31%).
• Daily Bollinger Band midpoint broken at $78,650; lower band sits near $76,392.
• 4‑hour Supertrend turned bearish below $78,204, with resistance now around $79,676.
• Chaikin Money Flow on the 4‑hour chart: –0.06, indicating net selling pressure.
• Relative Strength Index (RSI) on the daily chart: 55.37, down from a moving average of 66.07.

Market context

The broader crypto market fell 2.01% over 24 hours to a total market cap of $2.65 trillion. Ether (ETH) traded near $2,420, XRP around $1.36 and Solana (SOL) near $99.31.

Fundamental drivers

• U.S. August headline producer price inflation: 5.4% (vs. 5.3% forecast).
• Core PPI: 4.6%, the highest reading since June 2026.
• CME FedWatch probability of a 25‑basis‑point rate hike in September: ~60%.
• U.S. spot Bitcoin ETFs saw $201.9 million net outflows on Aug. 29, ending a nine‑day inflow streak.

Liquidity and potential price targets

CoinGlass liquidation heatmaps show concentrated liquidity clusters near $79,500‑$80,000 and smaller bands above $80,000. Below price, notable clusters sit between $76,800‑$77,500, near $76,000 and between $74,000‑$75,500.

If Bitcoin holds above the lower Bollinger Band, the next resistance levels are $78,650, $80,907 and the recent swing range $82,000‑$82,300. A break below $76,392 could expose the psychological $76,000 level and further support zones around $75,000 and $74,000.