Bitcoin is on high alert ahead of important data... and traders are taking precautions with this measure.
Bitcoin traders are looking for protection from a downturn before the release of U.S. inflation data, which is expected to reveal the beginning of the impact of tariffs imposed by U.S. President Donald Trump on consumer prices.
The report is expected to be released at 15:30 Riyadh time, where it is anticipated to show an increase in the Consumer Price Index (CPI) by 2.8% year-on-year in July, compared to a rise of 2.7% in June.
On a monthly basis, prices are expected to rise by 0.2%, a slight decrease from the July increase of 0.3%. Meanwhile, the Core Consumer Price Index, which excludes volatile food and energy components, is likely to have risen by 0.3% in July after a 0.2% increase in June.