Bitcoin’s price has retreated after a strong surge that took it above $90,000 (€85,000) briefly, with its retreat aligning with a broad selloff in global equity markets and raising concerns over potential liquidation risks ahead of upcoming U.S. inflation data.
Since Donald Trump’s victory in the U.S. presidential election on November 5, Bitcoin has soared, rising over 33%. On Tuesday, the world’s largest cryptocurrency reached a peak, surpassing $90,000 (€85,000) after first breaking through the $80,000 (€75,000) mark over the weekend. Yet, Bitcoin saw a pullback to under $87,000 (€82,000) during Wednesday’s Asian session, as global equity markets experienced parallel declines.
Analysts caution that near-term profit-taking could limit further gains in risk assets like Bitcoin. Wall Street experienced a significant selloff on Tuesday following repeated record highs, while key Asian stock markets also dropped on Wednesday as investors braced for the release of U.S. inflation data.
