Bitcoin drops below $77,000 as oil prices surge and Treasury yields rise
Bitcoin slides under $77,000
On September 10 Bitcoin fell to an intraday low of $76,676, slipping below the $77,000 level. The drop came as crude oil prices rose above $100 a barrel and U.S. Treasury yields climbed, raising expectations of a Federal Reserve rate hike.
Key points
- Bitcoin fell 3.4% to $76,676.
- West Texas Intermediate crude topped $100 a barrel; Brent exceeded $105.
- 10‑year Treasury yield rose to 4.93%, 30‑year to 5.35% (19‑year high).
- More than 161,900 crypto traders were liquidated, wiping out about $568 million.
- Bitcoin’s support range of $76,000‑$82,000 is now being tested.
Energy prices push bond yields higher
Oil’s surge added pressure to inflation data that had been collected earlier in August. Higher energy costs could later appear in official price reports, keeping bond markets tight. The 10‑year yield moved toward 5%, and the 30‑year yield reached 5.35% before a Treasury auction.
Large crypto liquidations
CoinGlass data showed forced closures of about $568 million in positions over 24 hours. Bitcoin longs lost roughly $138 million and Ethereum longs about $113 million. Binance taker sell volume spiked above $1.4 billion in one hour as traders cut exposure.
Bitcoin price support zones
Glassnode data indicate a supply build‑up between $76,000 and $82,000, with a heavier long‑term holder block above $83,000. A break below this zone could expose lower support around $62,000‑$65,000.
What is confirmed
- Bitcoin price fell to $76,676 on Sep 10.
- Crude oil prices rose above $100 a barrel and Brent above $105.
- 10‑year Treasury yield reached 4.93%; 30‑year hit 5.35%.
- Crypto liquidations totaled about $568 million, with $138 million from Bitcoin longs.
What is still unclear
- The upcoming CPI report on Friday will show only part of the recent energy price surge.
- How much the CPI will exceed expectations and its effect on Treasury yields is uncertain.
Why it matters
Higher oil and bond yields increase borrowing costs and pressure risk assets such as Bitcoin. Large liquidations show that leveraged traders are exiting positions, which can amplify price moves.
What happens next
The consumer‑price index released on Friday will test Bitcoin’s $76,000‑$82,000 support range. A stronger‑than‑expected CPI could keep pressure on yields and Bitcoin.
