According to Odaily, Bitcoin has retreated from its record high as the market takes a pause ahead of the release of U.S. inflation data later today. The focus is expected to shift back to inflation and Federal Reserve policies in the latter half of the week, according to Charu Chanana, Chief Investment Strategist at Saxo Bank. However, it remains uncertain whether this will lead to the unwinding of the so-called 'Trump trade.'
Investors have linked former President Trump's policies with inflation, suggesting that if the Consumer Price Index (CPI) exceeds expectations, the market could react more sensitively. Bitcoin, which had been on a record-breaking upward trajectory, is currently priced at $86,525 after reaching an all-time high on Tuesday. The market's response to the upcoming inflation data will be closely watched, as it could influence future trading strategies and investor sentiment.
