Bitcoin Slumps Below $78K Amid US Inflation Concerns

Bitcoin's price dropped to around $77,278 on September 10, after experiencing a 1.31% decline from the previous day.

This downturn was attributed to hotter-than-expected US producer inflation and concerns over a potential Federal Reserve rate hike.

The price broke key technical supports, including the daily Bollinger Band midpoint and 4-hour Supertrend, signaling weakening momentum in the market.

Coinbase CEO Brian Armstrong stated that Bitcoin's price has likely found its bottom despite recent declines, and he expects a gradual upward trend over the next one to two years as the market approaches the next halving event.