Bitcoin Tumbles to $78,060 Amid Crude Price Surge

Bitcoin's price fell to $78,060 on September 10 before recovering to $78,340. The drop was attributed to rising crude prices and shifting US interest-rate expectations.

The cryptocurrency is up 0.30% over the past 24 hours and 0.78% in a week, despite recent outflows from Bitcoin exchange-traded funds (ETFs). Nischal Shetty, Founder of WazirX, notes that Bitcoin's daily golden cross is a positive signal, indicating improving momentum.

However, Shetty also cautions that the bigger question is whether Bitcoin can reclaim and hold its 50-week moving average. If it does, it would give the ecosystem stronger confirmation that the market structure has shifted.