Bitcoin Slips Under $77,000 as Inflation Data, Higher Yields and ETF Outflows Weigh

Bitcoin dropped below $77,000 on Sept. 10, extending a pullback from the $80,000 area as hotter U.S. inflation, rising Treasury yields and forced liquidations pressured crypto markets. BTC briefly traded near $76,650 before stabilizing around $77,000. The move followed an August U.S. producer inflation print of 5.4% year over year, prompting traders to raise expectations for another Federal Reserve rate increase next week. Reuters pegged the odds near 70%, up from about 65% before the PPI release. The slide also set off roughly $562 million in crypto liquidations. Bitcoin added to the wave after the $78,000 support level broke, forcing long positions out and shifting attention to the $75,000 support zone. $75,000 emerges as the next key level Technical conditions deteriorated quickly once BTC failed to hold $78,000. Sept. 10 historical data show Bitcoin closing near $77,188, down about 1.4% after trading as high as $78,541 and as low as $76,705. Updated technical readings point to $75,000 as the first major downside support, with the 200-day moving average near $72,500 as the next level if sellers remain in control. On the upside, resistance is seen near $78,000, followed by $81,000. The setup underscores the market's repeated inability to sustain moves around $80,000. Coinpaper recently noted how dramatically the market has evolved since BTC traded at $8, with U.S. spot Bitcoin ETFs now holding more than $103 billion in assets. Even so, those vehicles are no longer offering the same short-term support. ETF flows flip negative again U.S. spot Bitcoin ETFs posted about $120.2 million in net outflows on Sept. 9, after roughly $46.6 million of withdrawals on Sept. 8. The two-day total of about $167 million marked the first back-to-back outflow sessions since mid-August. ARKB led Sept. 9 redemptions at about $78 million, while BlackRock's IBIT saw roughly $19.5 million in outflows. The reversal stands out after the group drew more than $1 billion over the prior three trading days. CPI in focus as yields approach 5% Markets are now looking to U.S. CPI as the next major catalyst. 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 lifted rate expectations. From a technical standpoint, holding $75,000 could allow BTC to retake $78,000 and renew attempts toward $80,000–$81,000. A clean break below $75,000 would put the 200-day moving average near $72,500 in play. While the bullish golden cross that appeared this week remains intact, near-term price action is being driven more by inflation dynamics and liquidity conditions, with buyers' willingness to defend $75,000 likely to be decisive.