Bitcoin price hovered around $77,005 ahead of the September FOMC meeting, as traders reduced risk ahead of the Federal Reserve decision.
The crypto market is down 2.01% to $2.65T in 24h. Ether price was trading at $2,420, XRP price hovered around $1.36, and Solana at $99.31. The pullback was a general precaution as US PPI shot up to 5.4%.
US PPI Inflation Reaches 5.4% as Core Price Pressures Accelerate
August producer inflation increased to 5.4%, exceeding economists’ 5.3% forecast and signaling price pressures in the United States.
Core PPI rose to its highest point since June 2026 at 4.6% and supports the worry surrounding ongoing inflation.
BREAKING: August PPI Inflation rises to 5.4%, above expectations of 5.3%.
Core PPI Inflation rose to 4.6%, the highest since June 2026.
July’s headline and core PPI inflation numbers were also revised higher.
The odds of rate hikes are rising further on the news.
— The Kobeissi Letter (@KobeissiLetter) September 10, 2026
Authorities revised the headline and core readings of July to the upside, indicating that previous producer-price pressure was even higher than previously indicated.
The report raised the anticipation of interest-rate rises because markets reconsidered future policy moves by the Federal Reserve.
Fed Rate Hike Odds Jump to 69.8% Ahead of September Meeting
The Federal Open Market Committee will convene on September 15-16, and the announcement of its policy will be made on the second day. Federal Reserve chair, Kevin Warsh has been given a split picture after sending out hawkish signals during the Jackson Hole last month.
The data presented by CME FedWatch indicated that the markets have placed a 69.8 percent chance that there will be a 25-basis-point rate hike at the September 15-16 FOMC meeting. The projected move would lift the target range from 3.50%-3.75% to 3.75%-4.00%.
Meanwhile, the probability of unchanged rates stood at 30.2%. The expectations changed drastically compared with a week ago, when keeping the rates had a 50.6% probability.
That division makes Bitcoin vulnerable to the incoming inflation rates, Treasury yields, and any of the policy direction by Warsh. The decision would be consistent to alleviate the immediate stress by maintaining liquidity status of cryptocurrencies and other risk assets.
Bitcoin ETFs Record $46.65 Million Outflow After Three-Day Streak
U.S. spot Bitcoin ETFs saw net withdrawals of $46.65 million on September 8, according to SoSoValue. This was their first net outflow in a day after three consecutive net inflows in the funds.
Spot Ethereum ETFs also posted $24.29 million in total net outflows during the same trading session. But Fidelity FETH broke the overall trend, with net inflows of 9.89 million, with investors in selectively holding Ethereum exposure.
According to SoSoValue, U.S. spot Bitcoin ETFs saw total net outflows of $46.6464 million on September 8 ET, marking the first net outflow after three consecutive days of net inflows. U.S. spot Ethereum ETFs saw total net outflows of $24.2921 million, while Fidelity’s FETH led… pic.twitter.com/rwd2tSryeP
— Wu Blockchain (@WuBlockchain) September 9, 2026
The combined flows were indicative of a hesitant mood in both significant cryptocurrency products the same day.
Will Bitcoin Price Hold $76,000 or Fall Toward $74,000?
The BTC price fell to $76,976 on Wednesday, slipping 0.99% as renewed selling pressure tested nearby support. Bitcoin is currently trading at below $78,000, which undermines the short-term structure after numerous unsuccessful recovery efforts.
The four-hour setup indicates instant support of around $76,000 where the past declines were met with demand. A strong close under this would reveal $74, 000 and then a further movement to $72,500.
The MACD is still bearish with the MACD line standing at minus 423.52 and the signal line at minus 278.19. The negative histogram of 145.33 indicates that the four-hour market remains under the control of downward momentum.
Meanwhile, the RSI has dropped to 30.95, placing Bitcoin close to oversold territory.
However, holding $76,000 could support a rebound toward the broken $78,000 resistance zone. Further strength above $78,000 would place $80,000 and $82,000 within reach.