Bitcoin traders are moving towards seeking protection from the downturn ahead of the release of U.S. inflation data, which is expected to reveal the initial impact of the tariffs imposed by President Donald Trump on consumer prices.

The report is expected to be released at 15:30 Riyadh time, where it is anticipated that the headline Consumer Price Index (CPI) will show an increase of 2.8% year-on-year in July, compared to a 2.7% increase in June.

On a monthly basis, prices are expected to rise by 0.2%, which is a slight decrease from July's increase of 0.3%. 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.