Bitcoin chips away at weekend upside as $80K hangs in the balance
Bitcoin price fell 2% in low-liquidity conditions as the US Labor Day holiday saw $80,000 once again slip from bulls’ grasp.
Bitcoin price fell 2% in low-liquidity conditions as the US Labor Day holiday saw $80,000 once again slip from bulls’ grasp.
Bitcoin (BTC) drifted lower on Monday as a low-liquidity environment erased the weekend’s gains above $80,000.
Data from TradingView showed BTC/USD down nearly 2% on the day at the time of writing. This price action comes after its first weekly close above $80,000 since early May.
“Near-term volatility compression, despite approaching catalysts, reflects a market waiting for clarity rather than pricing in strong directional views,” QCP wrote in its latest analysis. It added that the “market is positioned for a directional break once the inflation data arrives.”