TLDR
- Bitcoin traded near $79,500 after briefly topping $82,000 last week.
- Strong U.S. jobs data raised expectations for a possible Fed rate hike.
- Spot Bitcoin ETFs recorded $987 million in weekly inflows.
- Key support sits near $77,000–$78,000, with resistance around $80,000–$82,000.
- Traders now await PPI and CPI data before the Fed’s September 16 meeting.
Bitcoin traded near $79,500 on Monday after giving back part of last week’s gains. The Bitcoin price remained below the $80,000 mark as traders assessed stronger U.S. jobs data, higher Treasury yields, and fresh inflation risks before the Federal Reserve meeting.
Bitcoin Price Holds Near $80,000
Bitcoin rose above $82,000 last week before Friday’s U.S. jobs report changed market expectations. The economy added 162,000 jobs in August, well above the expected 55,000, while unemployment stayed at 4.1%. The stronger report pushed the estimated chance of a 25-basis-point Fed rate hike on September 16 to about 60%. Treasury yields and the U.S. dollar moved higher after the data, while Bitcoin and other rate-sensitive assets weakened.
LMAX strategist Joel Kruger said crypto remained resilient despite higher yields, rising oil prices, and the latest U.S.-Iran escalation pressuring risk assets on Monday. U.S. spot Bitcoin exchange-traded funds recorded $987 million in net inflows last week.
The result marked a third straight week of positive flows and showed continued demand from investors using regulated products. QCP Capital said daily fund flows remained uneven as traders adjusted positions before major U.S. inflation reports. The firm placed resistance between $80,000 and $82,000, while support remained between $77,000 and $78,000.
Onchain Data Shows Stronger Realized Cap
CryptoQuant analyst Axel Adler Jr. reported that Bitcoin’s 30-day realized capitalization change turned positive on August 24. The measure had spent 87 days in negative territory before recovering during the recent market rebound. By September 6, the 30-day change reached 0.88%. Realized capitalization rose by $9.36 billion over the period to $1.068 trillion. Rising realized cap shows that more Bitcoin changed hands at higher prices during the recovery.
Traders now await U.S. producer price data on Thursday and August consumer inflation figures on Friday. These releases will provide the final major inflation readings before the Federal Reserve meeting scheduled for September 16. Economists expect headline CPI to remain at 3.4% year over year, while they see core CPI falling to 2.4%. Capital.com analyst Kyle Rodda said a softer core reading could support a Fed hold, while stronger inflation could revive rate-hike expectations. Investors now track the Bitcoin price against incoming inflation data, bond yields, and Fed expectations. Market participants will also watch whether Bitcoin can reclaim the $80,000 to $82,000 area while holding support near $77,000 to $78,000.
