On September 15, Bitcoin experienced a sharp decline, briefly falling below $75,000 before recovering to over $76,000. This volatility resulted in the liquidation of more than $98 million in long positions.
The market downturn was driven by rising US 10-year Treasury yields, which exceeded 5% for the first time since November 2023. Additionally, investors reacted to expectations of a 25-basis-point interest rate hike by the Federal Open Market Committee.
Bitcoin opened the session near $78,189, reaching a high of approximately $78,250 before facing selling pressure. Prices hit a multi-week low between $75,560 and $75,605, the weakest level recorded since August 21.
The Crypto Fear & Greed Index declined from 81 to 67 during the session. Traders are currently monitoring the $75,000 to $76,000 range as a critical support zone, with the next potential support level identified between $73,000 and $74,000.
