The Crypto Market Has Retreated to Support Levels While Awaiting Data
By: Alexander Kuptsikevich
Published: Sep 11, 2026
Market Overview
The cryptocurrency market has experienced a decline, with a 1.1% drop in market capitalization to $2.63 trillion. This downturn is attributed to rising US inflation and increasing government bond yields, prompting investors to adopt a more cautious approach towards risk assets.
Bitcoin Analysis
Bitcoin (BTC) has dipped below the $77,000 mark, reaching an eight-day low. This decline coincides with a significant rise in US government bond yields, driven by a surge in producer prices that has heightened expectations for a Federal Reserve rate hike. On the weekly charts, Bitcoin is retreating from the 50-week moving average, which is seen as a resistance level around $78,000. However, it is currently finding support at the lower boundary of its recent trading range.
Ethereum Analysis
Ethereum (ETH) has been trading sideways, struggling to break above the $2,500 resistance level. The 200-week moving average has become a significant barrier, and the formation of a 'death cross'—where the 50-week moving average falls below the 200-week moving average—adds to the bearish sentiment. Despite this, historical patterns suggest that previous occurrences of similar signals did not lead to severe sell-offs, and breaking above these moving averages has previously triggered rallies.
Market Sentiment and News
Recent data from CryptoQuant indicates a high volume of large Bitcoin transfers to exchanges, which often precede coin sales, suggesting weak demand in the US market. Notably, Anthony Pompliano, CEO of ProCap Financial, has expressed optimism for Bitcoin, citing a recent 24.8% increase over a week and strong institutional capital inflows as indicators of bullish momentum.
Additionally, the Bank for International Settlements (BIS) has raised concerns about potential financial stability risks stemming from the surge in AI investments, warning that a correction in this sector could lead to a global financial crisis. In a related development, Bitwise has decided to close its Dogecoin ETF due to a lack of investor interest, as the meme coin has lost over 45% of its value since the fund's launch.