Bitcoin Price Eyes $72K as Momentum Fades Amid Inflation Jitters

Bitcoin's price has extended its decline below $78,000 as fading momentum and caution ahead of U.S. inflation data kept buyers on the sidelines.

The cryptocurrency reached an intraday high of $78,564 before sellers pushed it as low as $77,688, according to data from crypto.news.

Despite the repeated declines, Bitcoin remains inside a broader range between $76,000 and $81,000, with its fifth drawdown of 4-6% in the past three weeks.

Crypto trader Daan Crypto Trades noted that volatility has increased without producing a clear directional trend, suggesting traders may need to wait for a confirmed break from the range before assuming Bitcoin has started a larger move.