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Bitcoin slips below $79,000 as crude prices rise and ETF outflows resume; what should investors watch next?
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Bitcoin slips below $79,000 as crude prices rise and ETF outflows resume; what should investors watch next?
Investors should remain measured ahead of inflation data. Excessive leverage should be avoided, suggests analyst.
- Bitcoin fell to $78,060, then recovered to $78,340.
- Macro factors and US data influence Bitcoin price.
- Bitcoin ETFs saw recent outflows after earlier inflows.
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Bitcoin fell to the low of $78,060 in the early trade on September 10, but quickly recovered some of those losses to trade just above $78,340 (09:02 IST), though representing 0.30 percent over the past 24 hours, and up 0.78 percent in a week, amid shifting US interest-rate expectations and geopolitical tensions.
Rising crude prices pressured broader risk assets. Attention now shifts to upcoming US PPI and CPI data, which could shape the Fed’s September rate decision.
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Nischal Shetty, Founder of WazirX, said, “Bitcoin’s setup is getting interesting. The daily golden cross is a positive signal and shows momentum is improving, but the bigger question is whether Bitcoin can reclaim and hold its 50-week moving average.”
He explains that BTC is already above its 200-week moving average, which has historically been an important long-term support. “If the 50-week moving average turns into support as well, that would give the ecosystem much stronger confirmation that the market structure has shifted.”
Vikram Subburaj, CEO of Giottus, noted that the latest on-chain picture for BTC is more constructive than the subdued price action suggests. “Selling near recent range highs is running at less than half the pace seen at August’s peak. Long-term holders have also largely stayed out of the latest selling. However, spot conviction remains weak. Momentum has fallen 30 percent.”
Meanwhile, institutional demand has cooled in recent sessions. US spot Bitcoin ETFs attracted $770 million in net inflows between September 1 and 4. They then recorded $46.6 million in net outflows on September 8. Farside currently shows another $100.7 million in net outflows on September 9.
Riya Sehgal, Research Analyst at Delta Exchange, said, “Crypto remains cautious and range-bound, with macro conditions driving most of the pressure. Bitcoin failed to hold its move toward $79.7K and is back near $78.4K. On the 4H chart, BTC remains below its 50 EMA near $78.9K, with RSI around 43, keeping the short-term bias neutral to bearish. The key support is $77.6K–$78K, but it needs to reclaim $79K and then $79.8K–$80K to improve momentum.”
CoinDCX noted that the top gainers for the day are NEAR Protocol with over an 11.3 percent jump, followed by Zcash by 4.3 percent and Bitway by 4.2 percent. On the other hand, Uniswap plunges over 11 percent, followed by Sky by 9 percent and Ethereum Classic, Worldcoin, and Aerodrome Finance by more than 8 percent each. The crypto fear and greed index has risen slightly to 73, with sentiment now in the “greed” range.
“In the absence of further shocks, Bitcoin is likely to remain range-bound between $77,000 and $79,000,” said Prateek Gupta, Head of Business at Mudrex.
Here’s how major cryptocurrencies moved over the past 24 hours.
Key factors investors should watch
According to Harish Vatnani, Head of Trade at ZebPay, the bigger risks remain macro and regulatory, with the September 15 CLARITY Act vote, US-Canada trade tensions and changing Fed rate expectations all capable of shifting sentiment quickly. “For now, Bitcoin holding near $79,000 keeps the bullish setup intact, but ETF flows will be an important signal to watch.”
Avinash Shekhar, Co-Founder & CEO of Pi42, estimates that macroeconomic data could determine the direction of the next move across the crypto market. “If inflation comes in softer and Treasury yields ease, Bitcoin could regain momentum, with strength potentially spreading to Ethereum, XRP and Dogecoin. Until then, the market is likely to remain selective, with investors waiting for a clearer signal before committing to the next major move.”
Subburaj suggests, “Investors should remain measured ahead of inflation data. Excessive leverage should be avoided. The $77,200-$78,000 range is the key support zone. Immediate resistance lies between $79,700 and $80,500. Bitcoin needs to clear this area for momentum to improve.”
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Dipen Pradhan is the Editorial Consultant for Moneycontrol. He has over 10 years of experience in the field of journalism and covers personal finance topics. He has previously worked at Forbes Advisor India, Outlook Money, Entrepreneur, Inc42, and The Statesman. When he is not writing he loves to travel to explore rural hotspots.
first published: Sep 10, 2026 09:27 am
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