Bitcoin Eyes $72K Support Amid Bearish MACD Crossover

Bitcoin's price dipped below $78,000 on September 10 as market participants awaited US inflation data and Treasury yields remained high.

The cryptocurrency reached an intraday low of $77,688 before bouncing back slightly. The daily MACD momentum indicator turned bearish, while the Relative Strength Index (RSI) retreated from near-overbought levels.

Analysts view the range between $76,000 and $81,000 as volatile without a clear trend. According to Daan Crypto Trades, Bitcoin has recorded its fifth drawdown of 4-6% over the past three weeks.

The Federal Reserve's decision on interest rates remains a key catalyst for Bitcoin. Markets are weighing whether policymakers will maintain or raise the federal funds target range.