Bitcoin recently traded near $79,700 following a weekend close near the $80,000 threshold. The price remains below last week's peak above $82,000, where buyers failed to maintain a breakout. Despite this pullback, Bitcoin registered a roughly 25% gain throughout August, marking its strongest monthly performance since November 2024. However, the asset remains about 36.9% below its October 2025 all-time high of $126,080.
Technical Resistance and Support Levels
Immediate chart resistance is established at $81,259, while recent market data highlights a seven-day high above $82,100. A decisive move past the $81,259 resistance could push prices into the $82,000 to $83,000 range. Conversely, a rejection at this level could drive prices down toward the lower-range support at $76,206, with a deeper support zone identified between $72,000 and $74,000.
Macroeconomic Pressures and Employment Data
Market direction is also being influenced by recent macroeconomic updates. U.S. nonfarm payrolls increased by 162,000 in August, leaving the unemployment rate at 4.1%. This employment growth elevated market expectations for a Federal Reserve rate increase at the upcoming policy meeting on September 15 and 16, with rate futures showing a roughly 60% probability of a hike. Additional inflation data scheduled for release before the meeting could further alter these expectations.
Institutional Flows and Treasury Buybacks
On the institutional front, U.S. spot Bitcoin exchange-traded funds recorded $3.52 billion in net inflows during August, marking their strongest monthly total of 2026. September began with a shift in momentum, as these funds saw $236.46 million in net outflows on the first trading day.
Additionally, the U.S. Treasury plans to increase its long-dated bond buybacks starting September 9, raising maximum purchases from $2 billion to at least $4 billion per operation. While designed to improve liquidity in longer-dated Treasury markets, these actions can influence broader market risk sentiment.
