Bitcoin falls 1.2% to $77,300 as inflation data triggers market sell‑off
Bitcoin price drops 1.2% amid inflation concerns
Bitcoin fell 1.22% to $77,323, after opening at $78,282 and reaching a high of $78,526. The move came after the U.S. Producer Price Index showed higher‑than‑expected inflation, raising fears of a Federal Reserve rate hike.
Key numbers
- Current price: $77,323 (down $959)
- 24‑hour high/low: $78,526 / $76,651
- AD X: 45.8 (strong trend)
- RSI: 55.6 (bullish but not overbought)
- ETF net inflows: $3.8 billion over three weeks, total assets $101.3 billion
Technical outlook: near golden cross
The 50‑day exponential moving average (EMA) is just below the 200‑day EMA. A crossover, known as a golden cross, is expected in the next few days unless market conditions worsen. The last golden cross occurred after a death cross in November 2025.
Broader market backdrop
The S&P 500 fell 0.59% and the Nasdaq dropped nearly 1% on the same day. Treasury yields rose to multi‑year highs, and oil prices moved above $100 per barrel amid U.S.–Iran tensions, adding pressure to risk assets.
Institutional demand
Spot Bitcoin exchange‑traded funds (ETFs) – investment products that track Bitcoin’s price – recorded $3.8 billion in net inflows over the past three weeks, indicating continued institutional interest despite the pull‑back.
What is confirmed
- Bitcoin price at $77,323, down 1.22% on the day.
- Producer Price Index was hotter than expected.
- 50‑day EMA is close to crossing the 200‑day EMA.
- ETF net inflows of $3.8 billion and $101.3 billion in assets.
What remains unclear
- Whether upcoming CPI data and the Fed’s September 15 meeting will shift market sentiment.
- If the golden cross will hold or reverse after forming.
Why the moving average matters
A golden cross has historically been a bullish signal, but it is a lagging indicator. The current trend may still be influenced more by macro data than by the EMA crossover.
