The ProShares Ultra Bitcoin ETF (BITU) closed down 2.21% at $49.11 on January 13, as Bitcoin's price fell 0.72% to $93,814.15 amid macroeconomic pressures and shifting market dynamics. The decline in Bitcoin was largely driven by a reassessment of Federal Reserve rate cut expectations following a robust U.S. jobs report, which led major investment banks like Goldman Sachs and Bank of America to adjust their forecasts. This shift has resulted in higher bond yields and a stronger dollar, both of which typically exert downward pressure on risk assets like Bitcoin. Additionally, the market is grappling with concerns over potential U.S. government sales of Silkroad Bitcoin and upcoming inflation data, contributing to a bearish sentiment. The broader risk-off environment has also led to significant liquidations, with Bitcoin dipping below key support levels and triggering a cascade of sell-offs across the crypto market.