Bitcoin Price Slips Below $79,000 Amid Rising Crude Prices

Bitcoin's price fell to $78,060 on September 10, but quickly recovered some of its losses and traded above $78,340. The cryptocurrency has seen shifting US interest-rate expectations and geopolitical tensions influence its price.

Rising crude prices have also put pressure on broader risk assets. Analysts are now looking at upcoming US PPI and CPI data to see how it will shape the Fed's September rate decision.

Nischal Shetty, Founder of WazirX, said that Bitcoin's setup is getting interesting, with a daily golden cross indicating improving momentum. However, he noted that the bigger question is whether Bitcoin can reclaim and hold its 50-week moving average.