$USDC

Bitcoin is easing lower for a second day as it continues to fall away from the 105.7k 6-month high reached earlier this week.

Bitcoin surged through the 100k level last week and holds above this key psychological level, supported by the truce in the US-China trade war and Trump’s trade deals in the Middle East and the UK. Along with other risk assets, BTC has benefited from expectations that the worst-case scenario for trade tariffs has been avoided.

Meanwhile, US inflation cooled to its lowest level in 4 years, adding to the buoyant mood, easing fears over the impact of tariffs on the US economy. However, it is still early days and it could take several months for the impact of the Trump administration’s trade policies to show in hard data.