Bitcoin Falls Off a Cliff – Here’s Where It Can Stop

Key Takeaways

• Bitcoin failed to break above the 200-day SMA and is now testing the $77,500 support zone (0.2 Fib)
• All major U.S. Bitcoin ETFs recorded net outflows, with BlackRock alone selling over 1,720 BTC
• Hotter-than-expected PPI and CPI data are keeping rate cut expectations off the table

With institutional ETF outflows accelerating, inflation data killing rate cut hopes, and geopolitical uncertainty refusing to clear, the question now is how far Bitcoin goes down and where buyers actually show up.

The Technical Ceiling That Stopped the Rally

Bitcoin dropped sharply after running into a wall at the 200-day simple moving average, a level that has repeatedly acted as a ceiling during this latest recovery attempt. The price, which was sitting above $81,000 earlier in the week, pulled back to around $77,985 on Saturday, with sellers firmly in control following a string of macro data releases that markets did not like.

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