Bitcoin Price Flirts with $79,000 Amid US Inflation Data Anticipation

An $83,000 higher-timeframe close for Bitcoin could trigger further upside to $100K. The cryptocurrency remains range-bound between $78,000 support and $82,000 resistance as investors await US PPI and CPI data.

Bitcoin ETF flows have started to cool down, with $100.7 million in net outflows on September 9. Analysts are weighing the odds of the next move to $100K, with macro indicators taking center stage.

Crypto Patel noted that the Bitcoin price chart is close to a golden cross formation and identified an $83,000 higher-timeframe close as a key bullish trigger for Bitcoin. However, he cautioned that failing to break past resistance could trigger a downside in the $60K-$70K range.