Bitcoin's Weekend Momentum Stalls Near $80K as Markets Await Inflation Data

Bitcoin's momentum from last weekend has stalled out as it trades near $80,000. The price slipped back toward the high-$70,000s on Monday after failing to hold onto gains due to thinner liquidity during the US Labor Day holiday.

The pullback comes after Bitcoin posted its first weekly close above $80,000 since early May. At the time of writing, TradingView data showed BTC/USD down nearly 2% on the day.

According to CoinGlass data, liquidation pressure was roughly balanced between long and short positions over the past 24 hours. QCP Capital noted that volatility has compressed, suggesting investors are waiting for external catalysts, particularly US inflation data later this week.