Bitcoin Price Falls Below $77,000 Amid Macroeconomic Risks

Bitcoin price adjusted to $76,337 after failing to hold above $79,000.

On April 28, the price of the leading cryptocurrency adjusted to $76,337 following an unsuccessful attempt to hold above $79,000. The market faced pressure from weak macroeconomic data from the US and a halt in fund inflows into spot ETFs.

Macroeconomic Factors

The University of Michigan’s consumer sentiment index fell to a historic low of 49.8 points. Inflation expectations for the year ahead rose from 3.8% to 4.8%, and long-term expectations reached 3.5%, the highest since 2011. 

Bitfinex noted that rising inflation expectations hinder the Fed from easing monetary policy. The regulator fears that premature rate cuts could accelerate price growth. The upcoming Fed meeting is expected to maintain the rate in the range of 3.5-3.75%.

ETF Situation and On-chain Data

On April 27, the net outflow from US bitcoin ETFs amounted to $263.18 million. This ended a nine-day streak of inflows and added caution among traders ahead of the FOMC meeting.

Glassnode analysts recorded a 199% increase in net purchase volume, yet overall trading volumes fell by 13.8%. This suggests that the current surge is occurring with low speculative activity.

Expert Forecasts

QCP Capital considers $82,000 a key resistance level. GSR points out that the $80,000 mark remains an important psychological barrier, with a large volume of options concentrated around it.

Analyst Ted Pillows highlighted the negative Coinbase premium and the downward trend of RSI. In his view, if the price does not return above $77,500, the risk of a deeper correction will increase.

$BTC looks heavy here.

▫️ Lost its 4-week uptrend
▫️ Coinbase Premium has flipped negative
▫️ RSI making LHs and LLs

If $77,500 level isn’t reclaimed soon with strong spot demand, the chances of a bigger correction will go up. pic.twitter.com/KgbEcWBoOY

— Ted (@TedPillows) April 28, 2026

Trader Peter Brandt added that the current “channel” chart pattern is not a classic reversal pattern and urged investors not to have inflated expectations.

Bitcoiners
Those of you predicting $250,000 in 2026 need to stop with the mushrooms
This is called a channel $BTC
While it does not preclude further price gains, it is NOT a bullish bottoming pattern
The Factor Report reports on classical chart analysis https://t.co/6nRit1xsVp pic.twitter.com/ApMM46KFla

— The Factor Report (@PeterLBrandt) April 27, 2026

Earlier in April, Bernstein analysts identified $60,000 as a “clear bottom” for bitcoin.