Bitcoin Fails to Break 200-Day Moving Average, Drops to $77,000

Rising inflation and increasing bond yields in the US have weakened expectations for a Federal Reserve interest rate cut, intensifying selling pressure in cryptocurrency markets. These developments prevented Bitcoin from surpassing the critical technical level of the 200-day moving average. After failing to breach this resistance level, Bitcoin faced selling and declined to the $77,000 level. The market is observed to have reduced risk appetite due to the impact of macroeconomic factors. Analysts note that the failure to break above the 200-day moving average could strengthen the bearish trend in the short term. However, it is stated that the market will find direction based on Fed policies and inflation data. This is not investment advice.