The ProShares Bitcoin Strategy ETF (BITO) closed down 1.34% at $22.74 on January 13, as Bitcoin's price faced downward pressure from macroeconomic factors and shifting market sentiment. Bitcoin's price fell 0.72% to $93,814.15, driven by stronger-than-expected U.S. jobs data released last Friday, which prompted a reassessment of Federal Reserve rate cut expectations. This led to a rise in bond yields and a stronger dollar, exerting pressure on risk assets like Bitcoin. Additionally, concerns over potential U.S. government sales of Silkroad Bitcoin and upcoming inflation data have added to the bearish sentiment. The broader risk-off environment triggered significant liquidations as Bitcoin fell below key support levels, causing a cascade of sell-offs across the crypto market. The anticipation of a more turbulent first quarter for crypto, as investors adjust to the prospect of tighter monetary policy, has further pressured Bitcoin's price.