Bitcoin is struggling to hold $80,000 despite a powerful return of institutional demand through U.S. spot Bitcoin ETFs. BTC traded around $79,000-$80,000 on Friday after reaching roughly $81,400 a day earlier, with the reversal following a stronger-than-expected U.S. jobs report that showed 162,000 new positions in August. The data pushed market-implied odds of a September Federal Reserve rate hike toward 60%, while Treasury yields initially rose and the 10-year yield later settled near 4.77%. U.S. spot Bitcoin ETFs took in $730.9 million on Thursday, their largest one-day inflow since Jan. 14. BlackRock's IBIT accounted for roughly $454 million, ARK 21Shares added around $138 million and Fidelity attracted $74 million. Total ETF assets rose above $103 billion, representing more than 6% of Bitcoin's market capitalization. The funds attracted about $3.52 billion in August, their strongest month of 2026, following an earlier $3 billion buying streak tracked by Coinpaper. The renewed demand forms part of a broader debasement trade, in which investors seek scarce assets amid concerns about currency erosion, fiscal sustainability and sovereign debt. The rally accelerated after the U.S. Treasury said it would increase liquidity-support buybacks of longer-dated government debt, a move that weakened the dollar and supported demand for Bitcoin and gold. Reuters technical analysis said BTC gained roughly 30% from the low-$60,000s, while CoinShares described Bitcoin as trading "like gold again." Bitcoin remains vulnerable to higher interest-rate expectations because it continues to behave like a liquidity-sensitive risk asset. Fed Governor Christopher Waller briefly eased that pressure Thursday by indicating he could support holding rates steady if inflation continued cooling, after which BTC moved above $81,000 as Treasury yields and the dollar declined. Friday's jobs data partly reversed that move. Reuters identified resistance near $82,793, while Galaxy Research pointed to the 50-week moving average around $81,000. A sustained break could reopen a path toward $90,000, whereas failure would leave the mid-$70,000s as an important support region. The next major catalyst is the Aug. CPI report on Sept. 11, followed by the Fed decision days later. Institutional demand has given Bitcoin the strength to challenge $80,000, but its ability to remain above that level may depend on whether inflation allows the Fed to stop tightening.