Bitcoin retreats below $80K ahead of key US inflation data — SkimNews
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- Bitcoin dipped nearly 2% on the day after its first weekly close above $80,000 since early May, with US markets closed for Labor Day leaving thinner order books vulnerable to liquidity-driven moves
- Cross-crypto liquidations totaled $178 million over the prior 24 hours, evenly split between long and short positions per CoinGlass data
- CoinGlass liquidation heatmaps showed liquidity thickening at $80,500 above and $78,800 below as nearby short-term targets
- QCP Capital flagged declining overall volatility, writing that the market is "waiting for clarity rather than pricing in strong directional views" ahead of Thursday and Friday US inflation data
- Bitcoin has retained the majority of its 25% August gains while trading in a confined range since August 21
- Bitget's Ryan Lee said Bitcoin's resilience after absorbing the surprise nonfarm payrolls uptick suggests investors aren't treating a potential Fed hike as the sole driver at current levels
- US spot Bitcoin ETFs pulled in $730 million net on Thursday, the cohort's highest single-day tally since January
Why it matters: With Bitcoin sitting just under the psychologically key $80,000 level and liquidity pools stacked at $80,500 and $78,800, the next major directional break will likely be triggered by Thursday and Friday's US inflation prints — which feed directly into Fed rate-cut pricing — rather than crypto-specific catalysts.
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