Bitcoin price extended its decline below $78,000 on Sept. 10 as fading momentum, elevated Treasury yields and caution before U.S. inflation data kept buyers on the sidelines.

Bitcoin price falls below $78,000

According to data from crypto.news, Bitcoin (BTC) price traded near $77,800 at the time of writing after opening the daily session at $78,306. The cryptocurrency reached an intraday high of $78,564 before sellers pushed it as low as $77,688.

The move extended the pullback from the Sept. 3 peak near $82,280. Bitcoin has since formed a series of lower highs on the 4-hour chart, showing that buyers have struggled to maintain each rebound.

Price also slipped below the 4-hour Supertrend level around $78,203. The indicator will continue to favor sellers unless Bitcoin recovers that mark and holds above it on a closing basis.

A stronger resistance area sits near $80,151, where the previous Supertrend barrier overlaps with recent intraday highs. Bitcoin repeatedly failed to sustain moves above $80,000 during the past week, making the psychological level an important test for any recovery attempt.

Crypto trader Daan Crypto Trades said Bitcoin had recorded its fifth drawdown of between 4% and 6% over the past three weeks. Despite the repeated declines, the analyst noted that BTC remained inside a broader range between $76,000 and $81,000.

According to Daan, volatility has increased without producing a clear directional trend. He said traders may need to wait for a confirmed break from the range before assuming that Bitcoin has started a larger move.

US inflation risks limit demand for Bitcoin

Bitcoin’s latest decline came as markets prepared for U.S. producer and consumer inflation reports ahead of the Federal Reserve’s Sept. 15–16 meeting.

Oil prices above $100 per barrel have revived concerns that energy costs could keep inflation elevated. Higher inflation readings could strengthen the case for the Fed to maintain restrictive monetary policy or raise rates.

U.S. Treasury yields also remained elevated as investors assessed inflation risks and growing government borrowing. The 10-year yield traded near 4.86%, while the 30-year yield approached 5.31%.

Higher bond yields can reduce demand for Bitcoin and other non-yielding assets because Treasury securities offer investors a fixed return. The same pressure has encouraged some U.S. ETF investors to favor short- and intermediate-term bond funds, according to Reuters.

Uncertainty around the inflation figures has also made it harder for spot Bitcoin demand to offset selling in the derivatives market. Leveraged positions can intensify short-term moves when price crosses heavily traded liquidation levels, particularly during periods of weak spot buying.

The Federal Reserve’s decision remains the main U.S. catalyst for Bitcoin. Markets are weighing whether policymakers will hold the federal funds target range at 3.50% to 3.75% or raise it by 25 basis points.

Momentum indicators turn lower

Bitcoin’s daily chart still shows a broader recovery from its June and July lows, but short-term indicators have weakened.

The daily relative strength index fell to 57.24 from its recent elevated reading, while its moving average stood at 66.20. An RSI above 50 generally shows that buyers retain some control, but the decline indicates that bullish momentum has cooled.

The moving average convergence divergence indicator produced a bearish crossover. The MACD line dropped to 2,357, below the signal line at 2,956, while the histogram fell to minus 598.

The negative histogram shows that upward momentum is losing strength, although both main MACD lines remain above zero. Bitcoin would need renewed buying pressure to prevent the crossover from developing into a broader bearish reversal.

The Aroon indicator on the 4-hour chart also favored sellers. Aroon Down stood at 57.14%, compared with an Aroon Up reading of 21.43%, reflecting the recent pattern of lower highs and repeated tests of support.

Bitcoin remains below the 0.618 Fibonacci retracement level at $83,972. The level, calculated from the decline between $126,261 and $57,833, represents the main resistance separating the current recovery from a larger trend reversal.

Bitcoin liquidation map points to $77,300 support

CoinGlass’s one-week liquidation heatmap shows a concentration of leveraged positions immediately below the current price.

The closest large liquidity band sits between approximately $77,300 and $77,600. A decline into the area could trigger additional long liquidations, but it may also attract buyers seeking a sweep of the recent lows.

Trader Lennaert Snyder said he was watching for Bitcoin to take out the $77,600 low and possibly test $77,300 before forming a long setup. He identified the area as an extreme of the weekly range and said a successful liquidity sweep could support a recovery toward $80,000.

The daily chart places the next major technical support at the 78.6% Fibonacci retracement near $72,477. Before that level comes into play, buyers may attempt to defend the wider $76,000 to $77,000 range that has contained several recent declines.

Above the market, the heatmap shows notable liquidation clusters near $80,500 and $81,800. A recovery through $80,000 could force short positions to close and accelerate a move toward those pools.

Snyder identified the $80,000 region as a possible area for new short setups if Bitcoin tests it without establishing support. His view keeps the immediate trading range between roughly $77,300 and $80,000.

Bitcoin, therefore, remains caught between nearby long-liquidation risk below and larger short-liquidation pools above. A confirmed daily close outside the $76,000 to $81,000 range would provide clearer evidence of its next direction.

Key takeaways

• XRP has dipped more than 2% over the past few days. 
• On-chain data shows sell-side dominance in XRP’s market. 
• XRP’s long-to-short ratio of 0.83 and negative funding rate reflect bearish positioning.
• XRP is approaching critical support at its 200-day EMA near $1.354.

Ripple (XRP) remains under pressure on Thursday after falling more than 2% this week. The cryptocurrency is approaching an important support zone that could determine its next directional moves. However, a combination of sell-side activity, cautious on-chain signals, and mixed derivatives positioning suggests that its near-term upside may remain limited.

XRP on-chain data tilts bearish

CryptoQuant’s market summary indicates a cautious outlook for both altcoins. XRP’s futures market is showing signs of overheating and sell-side dominance, while retail traders account for some of the current activity. Similar overheating conditions are emerging in the spot market, although several other indicators remain neutral.

Together, these signals point to cautious and moderately bearish sentiment among XRP traders.

Derivatives positioning shows conflicting sentiment between XRP and Stellar traders. XRP’s long-to-short ratio fell to 0.83 on Tuesday, approaching its lowest level in a month. 

A reading below 1 means short positions outnumber long positions, indicating that more traders expect XRP’s price to decline.

The XRP funding rate also turned negative on Wednesday and stood at -0.0012% on Thursday. Negative funding means traders holding short positions are paying those with long positions, reinforcing the bearish tone surrounding the token.

XRP approaches the critical 200-day EMA

XRP traded around $1.392 on Thursday after declining more than 2% this week. Despite the pullback, the token remains above its 50-day, 100-day, and 200-day exponential moving averages. These indicators are clustered between approximately $1.244 and $1.354, maintaining XRP’s constructive underlying structure while they continue to hold.

The Relative Strength Index sits in the mid-50s, indicating that bullish momentum has moderated without completely disappearing. Meanwhile, the Moving Average Convergence Divergence line remains below zero, signaling weakening upside momentum.

XRP’s first major support is the 200-day EMA near $1.354. A break below this level could expose the horizontal support at $1.300, followed by the 50-day and 100-day EMAs. The next significant downside target would sit around $1.000.

On the upside, XRP faces major resistance near $1.900. A daily close above this level would be required to restore stronger bullish momentum and support a more substantial price recovery.

Until that happens, weakening derivatives demand and fading momentum could keep XRP under pressure near its moving-average support zone.

Key takeaways

• PEPE trades near $0.00000348 after rejection at its 200-day EMA.
• Whales holding 10 million to 100 million PEPE have sold 80 billion tokens since August 25.
• A break below $0.00000313 could trigger a correction toward $0.00000230.

Pepe (PEPE) remained under pressure on Thursday, trading near $0.00000348 after failing to overcome a crucial resistance level.

On-chain data shows that large holders have been reducing their positions, potentially increasing near-term selling pressure. Meanwhile, conflicting derivatives signals and weakening technical momentum leave PEPE exposed to a deeper price correction.

PEPE whales take profits after August rally

Santiment’s Supply Distribution data shows that some of PEPE’s largest holders have been selling tokens following the meme coin’s strong gains in mid-August.

Wallets holding between 10 million and 100 million PEPE have collectively offloaded approximately 80 billion tokens since August 25. This substantial distribution suggests that larger investors are taking profits after the recent rally.

Over the same period, smaller and mid-sized wallets holding between 100,000 and 10 million PEPE accumulated a combined 5.06 billion tokens.

However, buying from these smaller investors represents only a fraction of the amount sold by whales. The imbalance could limit PEPE’s recovery and maintain downward pressure in the short term.

PEPE’s derivatives market presents a mixed outlook. The token’s long-to-short ratio stood at 1.05 on Thursday, close to its highest level in more than a month. A reading above 1 indicates that long positions outnumber shorts, suggesting that slightly more traders expect PEPE to rally.

However, funding-rate data points to a more cautious market. PEPE’s open-interest-weighted funding rate turned negative on Wednesday and fell to -0.0067% on Thursday.

A negative funding rate means short-position holders are paying traders with long positions. This typically reflects stronger bearish positioning and contradicts the optimism shown by the long-to-short ratio.

PEPE rejected at 200-day EMA resistance

PEPE traded around $0.00000348 on Thursday after facing rejection at its 200-day exponential moving average near $0.00000364 during the previous session.

The failed breakout highlights the 200-day EMA as an important barrier that bulls must overcome to regain control.

Momentum indicators also show that buying pressure is weakening. The Relative Strength Index is moving lower toward the neutral level of 50, suggesting the earlier bullish momentum is fading.

The Moving Average Convergence Divergence indicator produced a bearish crossover last week, which remains in place and reinforces the risk of further losses.

PEPE’s 50-day and 100-day EMAs provide an initial support zone near $0.00000320. The next important horizontal support sits around $0.00000313.

A daily close below this area could confirm a deeper correction and expose PEPE to its next major support near $0.00000230. Such a move would represent a decline of approximately 34% from its current price.

Conversely, PEPE must close above the 200-day EMA at $0.00000364 to weaken the bearish outlook. A successful breakout could open the door to a recovery toward the next daily resistance at approximately $0.00000442.