Bitcoin is back below $80,000 after a surprisingly strong jobs report reignited the prospects of the Federal Reserve raising rates at its upcoming meeting.

Notable Statistics:

• Coinglass data shows 101,330 traders were liquidated in the past 24 hours for $523.10 million.       
• SoSoValue data shows net inflows of $730.87 million from spot Bitcoin ETFs on Thursday. Spot Ethereum ETFs saw net inflows of $141.4 million.
• In the past 24 hours, top gainers include Lighter, Dash and Zcash.

Notable Developments:

• Bitcoin ETFs Pull In $730 Million for the First Time Since January
• Bitcoin Could Go to $232,000 or Even Higher, Advocate Touts: ‘Welcome to the Bull Market’
• Ripple CEO Is ‘Proud’ About White House Crypto Meeting: What’s Next for XRP?
• Bitcoin, Ethereum, XRP Retreat but September Could Hold a Surprise, Data Shows
• Bitcoin Has No Label but Its Closest Rival Is Gold, BlackRock Exec Says

Trader Notes:

Trader Jelle said Bitcoin is nearing a key market structure break. Clearing previous highs would flip the higher time frame structure bullish, with the weekly close crucial for confirmation.

Crypto chart analyst Ali Martinez highlighted Bitcoin is retesting the $80,600 breakout level after reaching $82,280. Holding that support could open the door to $85,000.

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