The recent U.S. jobs report, indicating a significant rise in employment, has shifted market expectations regarding Federal Reserve interest rate policies. This development has led to a recalibration of investment strategies, as traders now foresee fewer rate cuts in 2025. Consequently, risk assets like Bitcoin have faced pressure, as higher interest rates tend to make traditional investments more appealing. Despite these macroeconomic headwinds, Bitcoin has demonstrated resilience, experiencing only a slight decline of 0.18% in the past 24 hours. Analysts from Ryze Labs have highlighted Bitcoin's retreat below $93,000 as a reflection of the growing impact of macroeconomic conditions on the cryptocurrency market.
The ProShares Bitcoin Strategy ETF (BITO) is currently priced at $23.03 as of 8:00 AM on Saturday, January 11.