Bitcoin (BTC) falls to $77,000, as geopolitical tensions and interest rate concerns drag on the cryp

Key points

Major players maintain buying pressure

Key price ranges become the focus

On September 2, Bitcoin fell 0.2% to US$77,132, after a strong 25% rise in August.

The escalation of the US-Iran military conflict and rising government bond yields have suppressed investor sentiment.

During the price decline, major players have increased their holdings by about 6. 765 Bitcoin (Worth approximately US$521 million)

Bitcoin is between critical ranges: The lower US$62,000 - 65,000 is supported, and the upper US$83,000 - 86,000 faces long-term holder selling pressure.

About US$14 billion options contracts will expire on September 25.

On September 2, 2026, Bitcoin fell back to around US$77,000. The previous strong performance momentum in August began to fade. The largest digital asset by market capitalisation fell 0.2% to $77,132 on the day, giving up some of the results of a monthly gain of nearly 25% in August.

Bitcoin prices

This correction is mainly due to two major factors: the resumption of military conflict between Washington and Tehran, and the rise in government debt yields in the global market.

US and Iranian forces exchanged fire again on Tuesday night. President Trump warned of possible attacks on Iranian oil facilities, while Tehran threatened to escalate attacks on U.S. military bases in the Gulf. Both sides have shown an unwillingness to ease the situation.

The crude oil market has soared due to these developments, fueling concerns about energy-triggered inflationary pressures. This situation has pushed the United States, Japan Government bond yields have risen in markets such as, Australia and Europe, reducing the appeal of risky assets such as Bitcoin to institutional and retail investors.

Financial markets are increasingly incorporating the Federal Reserve's September interest rate hike into expectations. Inflation indicators remain well above the central bank's annual target of 2%. The non-farm payrolls data released this Friday will become a key indicator of the direction of monetary policy.

Large players maintain buying pressure

Market analyst Ali Charts observed that Bitcoin fell back to US$76,732 from its recent high of US$81,474 on August 28, with a retracement of 5.82%. It is worth noting that during this decline, institutions and Giant Whale Wallet continued to maintain an increase in holdings, purchasing a total of approximately 6,765 bitcoins, worth approximately US$521 million.

Bitcoin has retreated 5.82%, falling from a local high of US$81,474 on August 28 to US$76,732 today. Despite the correction, the giant whale continues to buy. During the same period, they purchased approximately 6,765 bitcoins worth approximately US$521 million.

Technical analyst CryptosBatman pointed out that there was a worrying signal near the resistance level of an important trend line: the MACD indicator has turned into a bearish cross after encountering a rejection near the US$81,000 mark. If the current divergence pattern continues, it may signal further downward momentum.

Bitcoin shows fatigue near the main trend line resistance. The MACD indicator has just formed a bearish cross after being rejected around $81,000. If this divergence continues to evolve, it may usher in a deeper correction.

As the largest corporate holder of Bitcoin, Strategy made its first BTC purchase in two months, providing moderate price support.

Key price ranges come into focus

Glassnode's latest analysis shows that Bitcoin is currently sorting between two significant price ranges. The lower boundary is the US$62,000 - 65,000 support level formed within the summer trading range, where a lot of buying has accumulated. The upper resistance zone is concentrated at US$83,000 - 86,000, which is supplied by a large number of long-term holders.

The latest data: Glassnode data shows that 1.05 million bitcoins in the US$83,000 - 86,000 range are held by long-term holders, forming a supply wall; while 1.44 million bitcoins in the US$62,000 - 65,000 range provide downward support.

Glassnode researchers further pointed out that at the same price level, Bitcoin's profit holdings expanded from 65% in May to 68% at the end of August, which increased profit-taking pressure when the price approached previous highs.

Short-term derivatives market sentiment eased after Bitcoin failed to maintain above $80,000. The 25-delta skew indicator has returned to neutral territory after being rejected.

Long-term option positions remained relatively unchanged, with the 180-day skew indicator fluctuating very little during the upswing phase and subsequent pullbacks.

The option expiration event on September 25 involved approximately US$14 billion in open interest, with the majority of the exercise prices concentrated above US$80,000.

As of press time, Bitcoin was trading at US$77,060, down 0.2% in the past 24 hours.