Bitcoin Price Dives Below $78K Amid Inflation Concerns
The price of Bitcoin fell below $78,000 on September 10 due to hotter U.S. producer inflation, ETF outflows, and weakening technical indicators.
The Federal Reserve's upcoming meeting added to the pressure, as higher interest rates can negatively impact risk assets like crypto.
On a daily chart, Bitcoin's price has been forming lower highs since its early September peak above $82,000, indicating that buyers have lost momentum near the upper end of the range.