In this video, we break down Bitcoin on the 1hr chart using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch. Video by Koenz Trading.
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Bitcoin (BTC) is trading near $78,059 on Thursday, September 10, 2026. The cryptocurrency has experienced a mild daily pullback of roughly 0.2% to 0.7% from its recent highs above $81,000, reflecting broader caution across global macro markets ahead of crucial macroeconomic milestones.
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Bitcoin Insights Today
-Macro Economic Data Front and Center: Cryptocurrencies are trading flat to slightly lower today as investors brace for the U.S. Producer Price Index (PPI) data. The market expects producer-level inflation to tick upward to 5.3% annualized, which is heightening fears of a potential Federal Reserve interest rate hike next week. The CME FedWatch tool currently tracks a 62.2% chance of a rate increase next Tuesday.
-Geopolitical Turbulence Drives Supply Fears: Oil prices have surged past $100 per barrel following military updates regarding U.S. and Iran confrontations near the vital Strait of Hormuz. While the sudden spike in energy costs sparked inflation anxieties across risk-on equities, the broader crypto spot market has shown resilient baseline behavior.
-ETF Outflows Restrain Momentum: U.S.-listed spot Bitcoin ETFs recorded net outflows of $120.24 million on Wednesday, marking two consecutive days of institutional withdrawals. This cooling demand has prevented bulls from definitively flipping the psychological $80,000 zone into support.
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