The Proshares Ultra Bitcoin ETF (BITU) closed on January 7th at $52.06, marking an 11.99% decline as Bitcoin's price fell sharply due to stronger-than-expected U.S. economic data. Bitcoin's price dropped 5.25% to $96,918.05, driven by a surge in bond yields following the release of robust job openings and ISM Services PMI data, which exceeded expectations and dampened hopes for further Federal Reserve rate cuts. This economic backdrop has led to a reassessment of risk assets, triggering over $300 million in liquidations across the crypto market. The sell-off was exacerbated by profit-taking and stop-loss triggers on fresh crypto longs above $100,000, with Bitcoin falling below this psychological level. The downturn also affected major altcoins, with Ethereum and Solana experiencing declines of 6% to 9%. Despite nearly $1 billion in inflows into Bitcoin ETFs on January 6th, the broader economic indicators have posed challenges, contributing to a cautious investor outlook.