Bitcoin Falters as Oil Prices Rise and US Inflation Persists

Bitcoin's price pulled back toward $77,000 as rising oil prices and stubborn US inflation reduced demand for risk assets. The token traded near $76,800 after losing the $78,000 support area.

The 4-hour RSI fell to 34.25, indicating weak momentum, while its signal line stood at 39.08. Immediate support sits between $76,000 and $76,500, aligning with a visible liquidity cluster on the one-week CoinGlass liquidation heatmap.

A decisive move below $76,000 could expose $75,000 before attention turns to the $72,000, $74,000 range. Analyst Ted Pillows noted that Bitcoin is testing its 50-week exponential moving average and a weekly close below this level could push BTC toward $72,000, $74,000.