Bitcoin Holds Ground at $76,500 as Inflation Bites and ETF Outflows Pile Up

The Bitcoin price prediction for September 12 remains bullish above $76,500, a key demand zone that has held since July.

Currently, BTC is trading near $77,165.70, up 0.82% today, and sitting just below the 20-day EMA at $76,997.34.

The recent price action shows Bitcoin falling from around $95,000 in January to $57,500 in July, before rallying back above $80,000 in late August.

However, this week's inflation data has put pressure on risk assets, with the 10-year Treasury yield rising above 4.90% for the first time since November 2023.

The US spot Bitcoin ETFs have posted three straight daily outflows through September 10, and the current week is tracking towards a net outflow after three consecutive positive weeks.