Bitcoin Tumbles Below $80K Amid Low Liquidity Ahead of Inflation Data

Bitcoin's price dipped below $80,000 on Monday as a low-liquidity environment erased the gains from the weekend. The price of BTC was down nearly 2% at one point.

The market is awaiting US inflation data due later in the week, which could impact expectations for interest-rate hikes by the Federal Reserve. This catalyst may lead to a directional break in the market.

Despite the confined range since mid-August, Bitcoin has shown resilience and held most of its 25% gains from earlier last month. Analysts note that stronger employment numbers would normally put upward pressure on yields and the dollar, but the market has absorbed this repricing.