Bitcoin Slips Below $80K as Traders Await US Inflation Data

Bitcoin fell nearly 2% on Monday, slipping back under the $80,000 threshold as thin order books during the US Labor Day holiday erased the weekend's gains above that level. According to TradingView data, BTC/USD drifted lower throughout the session, undoing what had been its highest weekly close since early May. The cross-crypto liquidation total reached $178 million over 24 hours, with long and short positions evenly wiped according to CoinGlass.

Liquidity maps highlighted concentrations at $80,500 and $78,800, setting up nearby short-term targets for price action in either direction. QCP Capital noted declining overall volatility and described the market as being in a wait-and-see posture. "Near-term volatility compression, despite approaching catalysts, reflects a market waiting for clarity rather than pricing in strong directional views," the trading firm wrote, adding that a directional break is likely once inflation prints arrive Thursday and Friday.

Those prints will directly shape Federal Reserve interest-rate expectations and have become the week's primary macro catalyst. Bitget chief analyst Ryan Lee pointed to Bitcoin's "resilience" after it digested last week's surprise nonfarm payrolls uptick, a report that would normally pressure risk assets through higher yields and a stronger dollar. BTC/USD has held a narrow range since Aug. 21 while retaining the bulk of its 25% monthly gain from earlier in August, suggesting bulls remain in control despite the latest pullback.