Bitcoin Pulls Back to $76,651 as Golden Cross Nears
Bitcoin (BTC)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Bitcoin retreated from recent highs as risk assets fell following hotter-than-expected August Producer Price Index data. The S&P 500 dropped 0.59% and the Nasdaq fell nearly 1%, while Bitcoin opened at $78,282 before sellers dragged the price down to a low of $76,651. Trading is currently at $77,323, reflecting a 1.22% daily decline, as Treasury yields spiked to multi-year highs.
Despite the pullback from last week’s rally above $80,000, the Average Directional Index remains at 45.8, confirming a strong trend is in place. The Relative Strength Index sits at 55.6, suggesting the uptrend has not yet exhausted its momentum. Technical indicators show the 50-day EMA is nearly closing the gap with the 200-day EMA, projecting a golden cross in the next couple of days.
This crossover would mark the first since November 2025, reversing the bearish signal that started the current cycle’s drawdown. The Squeeze Momentum Indicator is active, signaling that volatility is compressing before a potential larger move. Institutional demand remains robust, with U.S. spot Bitcoin ETFs pulling in $3.8 billion in net inflows over the past three weeks.
Total net assets in these ETFs have reached $101.3 billion, indicating steady institutional interest despite the macro-driven volatility. Traders are bracing for more volatility ahead of Friday’s Consumer Price Index report and the Fed’s September 15 meeting.
How the market reacted
Whalio's own Binance spot order flow for BTC, measured when this story was written up on 11 September 2026. Not the outlet's figures.
Whalio’s Binance spot data shows Bitcoin trading at $76,568.72, with a 1-hour buy ratio of 55.8% contrasting sharply with 40.4% over the 4-hour window. This divergence suggests that while short-term buying pressure is momentarily stronger, the broader intraday trend is still dominated by sellers. The 24-hour buy ratio holds at 42.0%, confirming that selling pressure has persisted throughout the day. Volume delta data reinforces this view, showing a net outflow of -$191,321,920 over 24 hours compared to a modest +$3,466,812 in the last hour. The Cumulative Volume Delta closed at -$181,391,929, indicating that aggressive selling has outweighed buying for the majority of the session. Net buying occurred in only 7 of the 24 hours, highlighting the dominance of sellers during this pullback.
The latest daily buy ratio of 46.7% sits at the 18th percentile of the last 322 days, against a median of 49.2% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for BTC, averaged over the days leading up to the story.
This trading day stands out as unusual compared to the preceding week, where the average buy ratio was 48.2%. Today’s 24-hour buy ratio of 42.0% is 6.3 percentage points lower than that weekly average, signaling a distinct shift toward bearish sentiment. Volume has remained relatively stable at 1.04 times the weekly average, but the directional flow has turned decisively negative. Over the past eight days, the total volume delta has been -$430,045,158, with only one day of net buying recorded. This recent weekly context shows a price change of -5.8% over eight days, aligning with today’s continuation of the downtrend.