Bitcoin Falls Below $77,000 as Oil Prices Surge

<a href="https://xpertsstudio.com/bitcoin-price-spikes-near-80k-as-cpi-matches-forecasts/” title=”Bitcoin Price Spikes Near $80K as CPI Matches Forecasts”>Bitcoin

The price of Bitcoin fell by 3.64% during the week of 4–11 September 2026. The cryptocurrency with the largest market capitalisation dropped below $77,000. Four consecutive trading sessions, from Monday to Thursday, ended in the red, according to bits.media.

Bitcoin is falling again due to international tensions. The US and Iran continue to exchange blows and disrupt shipping in the Strait of Hormuz, whilst the Yemeni Houthis are attacking targets in Saudi Arabia and blocking the Bab el-Mandeb Strait. The price of Brent crude oil has jumped to $105 for the first time since May. This situation is fuelling inflation and reducing the likelihood of a cut in the key interest rate at the next meeting of the US Federal Reserve, scheduled for Wednesday, 16 September.

The US Department of Labour has released the Producer Price Index (PPI) figures for August. The index, which tracks wholesale price trends, rose by 0.4 per cent compared with July, in line with the consensus forecast. The core index, which excludes volatile food and energy prices, rose by 0.2 per cent, outperforming expectations. The picture is less favourable for the year-on-year PPI. The headline PPI rose by 5.4 per cent, whilst the consensus forecast had predicted 5.3 per cent. The 4.6 per cent rise in the core PPI was in line with expectations.

Spot Bitcoin ETFs saw their three-week run of capital inflows come to an end. This time, the ETFs recorded outflows totalling $449.44 million. The bulk of this amount, $234.24 million, came from the ARK 21Shares Bitcoin ETF (ARKB), managed by Ark Invest and 21Shares.

From a technical analysis perspective, the trend for Bitcoin remains bullish. The price of BTC is trading above the 50-day moving average (marked in blue). The RSI indicator also favours buyers (bulls), as it is above 50. Support and resistance levels on the daily chart remain unchanged from last week: $76,013 and $82,833.

The Fear and Greed Index has fallen by eighteen points compared to last week, to 56. This indicates that greed is prevailing among crypto investors.

Ethereum

Ether fell by 0.57% between 4 and 11 September. ETH has continued to hover between $2,400 and $2,500 for three consecutive weeks now, rarely straying beyond these limits. Volatility remains low: at the close of each of the seven trading sessions, the price of the second-largest cryptocurrency by market capitalisation fluctuated by less than 1.5 per cent.

Despite the generally negative news backdrop linked to the situation in the Middle East and US inflation, Ether has been spared a collapse due to the extremely low amount of ETH held on exchanges. On 8 September, this figure hit a multi-year low, falling below 14.8 million coins. The statistics indicate that traders are reluctant to trade this cryptocurrency. Instead, investors prefer to hold onto it or lock it away in staking.

Spot Ethereum ETFs, just like similar products for Bitcoin, recorded outflows of $19.3 million following three weeks of inflows. The largest portion of this amount, $17.29 million, came from Grayscale’s fund, the Grayscale Ethereum Trust (ETHE).

The Ethereum Foundation (EF) has published two documents outlining future changes within the Ethereum ecosystem. The first concerned the Hegota hard fork. Sixty-two Ethereum Improvement Proposals (EIPs) received 397 evaluative comments from sixty experts across nine different teams within the Protocol Cluster division, which develops the network’s base layer. The second document outlines the project’s current and long-term goals. One of the most important is resilience to the quantum threat. The plan is to achieve this in Ethereum by December 2029.

From a technical analysis perspective, Ether has been consolidating around the $2,465.9 support level for the third week running. However, the bulls remain in control, as the price is trading above the 50-day moving average (marked in blue). The stochastic oscillator, which is above 50, also favours buyers. Despite the favourable picture painted by the indicators, Ether has not yet reached the $2,621 resistance level.

Zcash

The privacy-focused cryptocurrency Zcash continues to rise. Over the past week, this digital asset has gained 3.44 per cent, having risen by more than 25 per cent at its peak. The main catalyst for this positive trend is investor interest in Grayscale’s spot ZEC ETF (ZCSH). Last week, the fund’s assets under management exceeded the $500 million mark. The fund holds over 550,000 ZEC, equivalent to almost 3 per cent of the total supply. Since its listing, cumulative capital inflows into ZCSH have totalled over $70 million.

Dogecoin

The problems facing the largest meme coin by market capitalisation continue. In early September, Dogecoin dropped out of the top ten cryptocurrencies by market capitalisation. Now, the US investment firm Bitwise has decided to close its spot ETF on DOGE — BWOW. The final trading day for the fund’s shares (units) is scheduled for 14 October. The investment firm attributed the decision to a review of its strategy and low investor demand.

Looking at DOGE spot ETFs as a whole, last week they recorded zero growth for the first time since July.

On a positive note, Dogecoin became available on the Solana blockchain via the Sunrise protocol on 7 September. This will enable DOGE to strengthen its position in the decentralised finance (DeFi) market. Holders of the meme coin will gain direct access to applications on Solana, without the need to set up bridge networks. The deployment on Solana will boost Dogecoin’s liquidity and may spur an increase in investor appetite. In any case, within the first 24 hours, the meme coin’s trading volume on the new blockchain reached $19 million.

However, the integration with Solana has so far had no impact on Dogecoin’s price. Between 4 and 11 September, DOGE lost a further 1.35 per cent of its value.

How did this story make you feel?

Follow our updates

Have information for the newsroom?Share it with Logos-Press

Source: logos-pres.md