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, with traders now anticipating 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% today. Analysts from Ryze Labs have highlighted the growing impact of macro conditions on Bitcoin's price movements.
The ProShares UltraShort Bitcoin ETF (SBIT) is currently priced at $11.22 as of 8:00 AM on Saturday, January 11.