Bitcoin dropped below $80,000 on September 10, marking four consecutive days of decline. Throughout the day, the asset traded between $76,000 and $78,500, with an intraday low of $76,663. This price is approximately 39% lower than the October 2025 peak of $126,000.
Since February 2026, Bitcoin has largely remained within a trading range of $60,000 to $80,000. Market analysts identify $76,000 as a key support level. A failure to hold this zone could lead to a test of the lower boundary near $60,000, representing a potential further decline of over 20%.
The current downturn coincides with rising geopolitical tensions in the Middle East, which pushed oil prices above $105 per barrel. Additionally, higher-than-expected US inflation data has increased the probability of interest rate hikes by the Federal Reserve, reducing the appeal of non-yielding assets.
Institutional activity also reflects a defensive trend. Spot Bitcoin ETFs saw outflows totaling approximately $166.8 million over a recent two-day period. Meanwhile, forced liquidations across the broader cryptocurrency market exceeded $386 million within a 24-hour window, further intensifying selling pressure.
