Bitcoin drops to $79,000! Rebound momentum cools ahead of U.S. inflation data

Bitcoin retreated from a near three-month high on Wednesday, with markets turning cautious as they await key U.S. inflation data that could have an important impact on the outlook for interest rates.

At the same time, the market is also paying close attention to the upcoming quarterly financial report of Nvidia, a benchmark company in the field of artificial intelligence. This financial report may influence market risk appetite and AI-related transaction trends in the next few weeks.

As of 2:01 a.m. ET (15:01 Beijing time), Bitcoin was down 1.8% at $79,093.5, after briefly surpassing $80,000 earlier this week.