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Bitcoin steadies near USD 77,081 after hotter PPI data pressured prices this week.
Zcash rallies over 12% today, extending its weekly gain past 15% on shielded pool demand.
Today's CPI report and the September 15 CLARITY Act vote are the market's key catalysts.
Bitcoin steadied near USD 77,081 on Friday, September 11. The coin recovered part of this week's losses. Hotter producer price data kept traders on edge through the session. Rising Middle East oil tensions added further caution across risk assets. Today's US Consumer Price Index report is due at 8:30 am Eastern Time. It now stands as the market's key catalyst.
Ethereum, Solana and XRP posted modest gains alongside Bitcoin. Zcash again outpaced the broader market by a wide margin. The token extended a rally built on shielded pool demand. Total crypto market capitalization held near USD 2.61 trillion. That figure stayed close to Tuesday's level. Desks are watching whether today's data shifts rate hike bets.
Bitcoin traded at USD 77,081.66, up 1.5% over the past 24 hours, per live CoinGecko data. Its market capitalization stood at USD 1.55 trillion. Trading volume over 24 hours reached USD 29.97 billion. Bitcoin gained 4.6% over the past seven days.
Below is today's Daily Quote roundup from leading crypto market analysts on Bitcoin's near-term structure.
CoinSwitch Markets Desk said BTC slipped below USD 77,000 earlier this week. US producer prices rose 5.4% year on year. That reading ran slightly above market expectations. Markets now price in a close to 74% chance of a Fed rate hike this month. The desk named USD 78,000 to USD 79,000 as the level Bitcoin must reclaim.
Mudrex Head of Business Prateek Gupta said Bitcoin extended its decline across four sessions. It tested the USD 76,000 to USD 77,000 zone. The selloff triggered nearly USD 190 million in liquidations within an hour. Long-term holders' share of realized profits fell sharply this week. Gupta named USD 76,000 as the level Bitcoin must defend to revive buying interest.
Delta Exchange analyst Riya Sehgal said Bitcoin's setup weakened after breaking its recent range. She flagged USD 75,600 to USD 76,200 as key support. Resistance now sits near USD 77,600 to USD 78,000. Implied volatility climbed near 40 this week. That signals traders expect a sharper move around today's CPI print.
WazirX founder Nischal Shetty pointed to broad profit-taking ahead of today's inflation report. Total market cap slipped 1.33% through the session. Derivatives data showed a clear tilt toward long liquidations this week. Open interest rose even as trading volumes declined. Shetty named USD 76,000 as immediate support and USD 78,000 as key resistance.
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Source: CoinGecko, prices as of today's session.
Zcash led the top coins by a wide margin today. It jumped 12.4% and extended its weekly gain past 15%. Hyperliquid followed with a 5.6% rise on strong volume. XRP added 3.1%, building on renewed spot buying interest. No coin in this list posted a decline over the past 24 hours. Bitcoin trailed the group with a steadier 1.5% gain into CPI.
August producer prices rose 5.4% year on year this week. The reading ran slightly hotter than economists had forecast. It reinforced concerns that inflation pressures remain sticky heading into today's session. Traders now see rate hike risk building into the Fed's meeting.
Fed rate hike odds for this month climbed toward 74% following the release. Traders repositioned quickly across crypto derivatives markets. Bitcoin briefly slipped below its USD 77,500 support level. The move highlighted how closely crypto now tracks inflation data.
Oil prices stayed elevated this week following fresh tensions tied to the Gulf region. Crude trading near USD 100 a barrel added further weight to inflation worries. Energy costs remain a key input economists are watching closely today.
Bitcoin stayed comparatively resilient through this latest bout of tension. Analysts say steady spot demand is helping absorb part of the pressure. Desks note the muted reaction contrasts with sharper selloffs seen earlier this year.
The Senate is set to hold a cloture vote on the CLARITY Act on September 15. A 60-vote threshold is needed to keep the bill alive this year. The vote marks a major test for crypto market structure legislation.
Unresolved ethics provisions and stablecoin rewards questions continue dividing lawmakers this week. A failed cloture motion would leave the legislation without a clear path. Industry desks are watching the outcome closely ahead of midterm elections.
Zcash jumped 12.4% in 24 hours and gained over 15% across the past week. Rising shielded pool adoption added fresh support to this move. Heavy mining demand is also lifting the token's steady climb higher today.
The wider privacy coin category remains among the standout performers this year. Renewed institutional curiosity continues fueling demand across the sector broadly. Traders are watching whether the rally extends past current resistance levels soon.
Bitcoin's slide toward USD 76,000 triggered close to USD 190 million in liquidations. The wipeout occurred within a single hour earlier this week. Long positions absorbed the bulk of the damage across major exchanges.
Glassnode data shows long-term holders' share of realized profits falling sharply. That shift suggests newer market entrants are driving most of the selling. Analysts view the pattern as a sign of shifting market structure today.
The August Consumer Price Index report due today stands as this week's biggest catalyst. Economists expect the data to shape rate hike odds heading into the Fed meeting. Markets remain split on the likely direction of today's print.
A softer print could ease Treasury yields and support a push toward USD 80,000. A hotter reading risks reinforcing hawkish bets and pulling Bitcoin toward USD 75,000. Traders are keeping position sizes light until the data lands.
Also Read: How Real-Time Blockchain Monitoring Could Change the Future of Crypto Security
Today's CPI report carries heavy weight for Bitcoin's next move. A soft print could ease yields and open a path toward USD 80,000. A hot number risks reinforcing hawkish bets and pressuring prices lower.
The CLARITY Act vote on September 15 adds a second layer of uncertainty. Desks recommend disciplined position sizing over leverage until both events pass.
1.What is the Bitcoin price today?
Bitcoin trades near USD 77,081.66, up 1.5% over the past 24 hours, according to live CoinGecko data. Support holds near USD 76,000, while resistance sits close to USD 78,000 across major trading desks this week.
2.Why is today's CPI report important for crypto?
The CPI print will shape expectations for the Federal Reserve's next rate decision. A cooler reading could ease yields and support Bitcoin, while a hotter print risks reinforcing hawkish rate hike bets across markets today.
3.What is the biggest crypto news today?
Today's biggest headlines include Zcash's continued rally past USD 1,000, hotter producer price data pressuring Bitcoin, and the CLARITY Act's pending Senate vote scheduled for September 15 this year.
4.Which coins are performing best today?
Zcash leads the top coins with a 12.4% daily gain, followed by Hyperliquid and XRP, both posting strong advances this session. No coin in the list declined over the past 24 hours.
5.What should investors watch this week?
Track today's CPI report, the CLARITY Act's Senate vote, and any fresh escalation in Iran-linked oil tensions closely, since each carries potential to move crypto prices sharply into next week.
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