Bitcoin's price movement today has been shaped by a mix of anticipation around U.S. retail sales data and regulatory concerns in South Korea. The potential suspension of Upbit, South Korea's largest cryptocurrency exchange, due to alleged KYC violations, has added to the cautious sentiment in Asian crypto markets. This, coupled with the broader market dynamics, has left Bitcoin struggling to maintain its position near the $100,000 milestone. The lack of bullish momentum in the order book data suggests sellers are currently in a more dominant position, further pressured by a strengthening U.S. dollar, which traditionally impacts Bitcoin negatively.
The Proshares Ultra Bitcoin ETF (BITU) saw a modest increase, closing at $56.09, up 1.36% from the previous close of $55.34. As of 18:40 on Thursday, January 16, the ETF is trading at $55.70, reflecting a slight decrease of 0.7% since the market close.