Bitcoin slips below $77.5K as macro pressures outweigh ETF inflows

Bitcoin fell 1.6% over the past 24 hours, slipping from an intraday high of $79,225 to a low of $77,318 and trading around $77,500 at the time of writing.

Macro factors weigh on price

Higher Brent crude (≈$92 per barrel) and rising global bond yields added pressure to risk assets. The energy price increase could sustain inflation, limiting the Federal Reserve’s ability to cut rates and reviving expectations of tighter US monetary policy. Elevated yields also make interest‑bearing securities more attractive relative to Bitcoin, which offers no fixed return.

ETF inflows provide institutional demand

US spot Bitcoin ETFs attracted $216.7 million of net inflows in the latest session, with BlackRock’s IBIT accounting for $205.9 million. The inflow reversed a $201.9 million net withdrawal recorded on Aug. 28, though the subsequent price decline suggests macro‑driven selling temporarily outpaced the new demand.

Technical picture shows weakening momentum

On the 4‑hour chart, price is testing the lower Bollinger Band (~$77,473) while the middle band sits near $78,262. The average directional index fell to 12.6, indicating a lack of a strong trend. Daily moving averages remain bullish (20‑day SMA $73,198, 50‑day $67,924, 100‑day $66,285, 200‑day $69,504), but the relative strength index dropped to 66 from an overbought level above 70.

Key support and resistance levels

• Immediate support: $76,500–$77,000 (also a liquidation cluster).
• Secondary support: $75,700–$76,000, with deeper daily support around $72,500–$73,200.
• Resistance: $78,260 (Bollinger midpoint), $79,050, then $79,500–$80,000, and the recent peaks $80,800–$81,300.

Liquidity clusters and leveraged positions

CoinGlass data show leveraged positions concentrated near $76,500–$77,000 and above $79,500. Approximately $33 million in Bitcoin liquidations occurred, split between $19.6 million long and $13.4 million short positions. Futures open interest hovered around $25.3 billion, with average funding at 0.0066% per eight hours.

Outlook

Bitcoin’s next move may hinge on defending the $76,500 support zone amid ongoing macroheadwinds. A recovery above $78,260 could restore bullish momentum, while a break below $76,500 may trigger a deeper pullback toward $72,500–$73,200.