Bitcoin slipped under the $77,000 mark on Wednesday after the August rally as rising oil prices and bond yields added strain across crypto markets. The cryptocurrency was trading at $76,682.
In the past 24 hours, Bitcoin was down 1.58% and Ethereum was down 3.08% to trade at $2,369 mark. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano fell upto 3.25%.
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CoinSwitch Markets Desk said BTC slipped below $77K as rising oil prices and bond yields added strain across crypto markets and $77K is now a key support level to watch. September has historically been one of BTC’s weakest months, so after August’s strong rally, some consolidation and higher volatility would not be surprising.
Prateek Gupta, Head of Business, Mudrex said Bitcoin spot ETFs continue to see positive inflows, recording $3.5 billion in net inflows during August, their strongest monthly inflow since September 2025.
The global crypto market capitalisation edged down 0.95% to $2.59 trillion, according to CoinMarketCap.
Avinash Shekhar, Co-Founder & CEO, Pi42 said Bitcoin is consolidating around the $77,000 mark after a strong August, as renewed geopolitical tensions, rising oil prices and expectations of tighter monetary policy weigh on broader market sentiment.
He further said that investors should avoid chasing sharp intraday moves and instead look for confirmation around key support and resistance levels. Staggered entries, disciplined position sizing and maintaining adequate liquidity would be preferable while the market establishes a clearer direction.
In the past week, Bitcoin and Ethereum were down 2,24% and 3.08% respectively. Among the major altcoins, BNB, XRP, Tron, Hyperliquid, Dogecoin, Cardano corrected up to 6.90% whereas Solana went up 2.39%.
Riya Sehgal, Research Analyst, Delta Exchange said Crypto markets have started September on a risk-off note as traders reassess positions after August’s rally amid renewed macro and geopolitical risks.
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Here is what other experts say
Vikram Subburaj, CEO, Giottus: The latest on-chain picture is increasingly mixed. Bitcoin is currently in a transitional phase. Institutional allocation and settlement activity remain healthy, even as retail participation softens.
Nischal Shetty, Founder, WazirX: Bitcoin trades near $76,921 in a short-term pullback within its broader constructive structure. Immediate support sits around $76,300-$76,600, while $77,100-$77,300 forms resistance.
CoinDCX Research Team: Bears have kept the Bitcoin price restricted as it continues to trade around $77,500, keeping the market accumulated within a range. The crypto fear and greed index stands at 63, while market sentiments continue to remain under ‘greed’.
( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
