The 2x Bitcoin Strategy ETF (BITX) closed at $62.40 on January 29, marking a 5.94% increase as Bitcoin's price rose by 2.87% to $104,190.37. The Federal Reserve's decision to maintain interest rates at 4.25%-4.50% initially caused a dip in Bitcoin's price, but it quickly rebounded following Fed Chair Jerome Powell's remarks, which provided a more optimistic outlook. Powell's indication that there was no rush to adjust policy rates reassured investors, contributing to Bitcoin's rise. Additionally, the Czech Central Bank's potential move to include Bitcoin in its reserves and Robinhood's announcement to introduce futures trading for Bitcoin have fueled optimism about increased institutional adoption. The anticipation of these developments, along with the easing of regulatory constraints allowing U.S. banks to hold Bitcoin, has bolstered confidence in Bitcoin's long-term value proposition.