Bitcoin is trading around $79,724 on Monday, down roughly 0.3% on the day, after a stronger-than-expected U.S. jobs report on Friday rattled risk assets across the board. The pullback comes after a week in which Bitcoin had been one of the strongest-performing major assets, and it underscores how sensitive the cryptocurrency remains to macroeconomic data even as institutional participation deepens.

U.S. employers added 162,000 jobs in August — nearly triple what economists had expected — while the unemployment rate held steady at 4.1%. The data pushed markets to price a roughly 60% probability of a Federal Reserve rate hike at the September 15–16 meeting, up from 49% before the report, according to CME FedWatch. Rate expectations have become a recurring driver of Bitcoin's price action, with the asset increasingly trading in tandem with technology stocks and other risk-sensitive investments.

Bitcoin had briefly climbed above $82,000 last week, touching a three-month high of $82,178 on Thursday, before the rally stalled once the jobs numbers came in. Higher interest rates tend to weigh on Bitcoin, as they raise the cost of holding non-yielding assets and tighten financial conditions more broadly.

Oil Prices Add to the Pressure

Oil prices are also playing a role. Brent crude climbed to around $97 a barrel on Monday as U.S.-Iran military tensions raised fears of supply disruptions. The U.S. military struck three Iranian oil tankers on Saturday after Iran targeted U.S. Navy vessels with ballistic missiles. The escalation pushed oil higher and added another layer of uncertainty for investors. Rising energy costs can also feed into inflation readings, which in turn shape expectations for Fed policy — one reason oil has become an indirect input for crypto traders watching rate paths.

Analysts are now watching Thursday's U.S. producer price data and Friday's consumer price index for further clues on the Fed's next move. Those two prints are the last major inflation data points before the September meeting, making them likely catalysts for volatility across risk assets, including Bitcoin.

$320 Million Exploit Hits Bitcoin's Liquid Network

Bitcoin's Liquid Network, a settlement layer used by exchanges, halted new transactions after approximately $320 million in bitcoin was drained from its federation wallet. Around 4,000 of the roughly 4,200 BTC held in the wallet were taken. The Liquid Network is a Bitcoin sidechain developed by Blockstream that enables faster settlement between exchanges and institutions, so a halt on the network affects operational infrastructure rather than the Bitcoin base chain itself.

The withdrawals were carried out through SideSwap, a platform authorized to operate on the network. Those responsible described themselves as "purported white-hat hackers," though their identities and intentions remain unclear. Exchanges have suspended LBTC deposits and withdrawals while the investigation continues. The incident is one of the larger sums drained from a Bitcoin-linked protocol on record, though it pales next to the sector's biggest exchange failures such as Mt. Gox and FTX, which involved billions of dollars and customer funds directly.

Analyst Ted Pillows posted on X that BTC is hovering near the $80,000 level and flagged the weekly close as the key metric to watch. He noted that Bitcoin is close to the 50-week moving average, and that a weekly close above it would make a strong case that Bitcoin has found its bottom.

$BTC is hovering around the $80,000 level. Weekly close is the most important, as Bitcoin is very close to the 50W MA. A weekly close above this would make a strong case for Bitcoin's bottom. pic.twitter.com/yiTxovGqQq — Ted (@TedPillows) September 6, 2026

$BTC is hovering around the $80,000 level.

Weekly close is the most important, as Bitcoin is very close to the 50W MA.

A weekly close above this would make a strong case for Bitcoin's bottom. pic.twitter.com/yiTxovGqQq

— Ted (@TedPillows) September 6, 2026

Institutional Demand Holds Firm

Despite the pressure, institutional demand has remained steady. U.S. spot Bitcoin ETFs recorded $175 million in net inflows on September 4, their third consecutive positive session, according to SoSoValue. Spot Bitcoin ETFs, first approved by U.S. regulators in January 2024, have become a primary channel for institutional Bitcoin exposure, which is why sustained inflows during price weakness are watched closely as a signal of holder conviction.

Spot Bitcoin ETFs Take In $175M; Ethereum ETFs Record $26.46M Inflow According to SoSoValue, U.S. spot Bitcoin ETFs recorded $175 million in net inflows on September 4 (ET), marking their third consecutive day of inflows. BlackRock's IBIT led with $117 million, followed by… pic.twitter.com/dNOGJAVUw5 — Wu Blockchain (@WuBlockchain) September 5, 2026

Spot Bitcoin ETFs Take In $175M; Ethereum ETFs Record $26.46M Inflow

According to SoSoValue, U.S. spot Bitcoin ETFs recorded $175 million in net inflows on September 4 (ET), marking their third consecutive day of inflows. BlackRock's IBIT led with $117 million, followed by… pic.twitter.com/dNOGJAVUw5

— Wu Blockchain (@WuBlockchain) September 5, 2026

BlackRock's IBIT led with $117 million in inflows, followed by Fidelity with $57.22 million. Total spot Bitcoin ETF inflows for the week reached approximately $1 billion.

On the prediction markets, Kalshi traders are pricing a 77% probability that Bitcoin crosses $85,000 before October 2 — a gain of roughly 6.3% from current levels.

On the technical side, Bitcoin's four-hour RSI sits at 55.20, reflecting neutral momentum, while the MACD histogram shows a slight bearish reading at -66.35, though both MACD lines remain above zero.

The key support level to hold is $79,500. A move above $82,000 would be the next step toward a push for $85,000. Beyond the technicals, the near-term calendar is dominated by the PPI and CPI releases, the Fed's September 15–16 meeting, and any further developments in the Liquid Network investigation and the U.S.-Iran situation — the factors most likely to determine which way the $80,000 level breaks.