The anticipation surrounding the Federal Open Market Committee (FOMC) meeting has kept Bitcoin trading within a narrow range, as investors await potential signals from Fed Chair Jerome Powell regarding interest rates. The Czech Central Bank's consideration of adding Bitcoin to its reserves has also sparked interest, indicating a growing institutional acceptance of the cryptocurrency. Additionally, Trump Media & Technology Group's announcement of its new financial services platform, Truth.Fi, which plans to allocate significant funds to cryptocurrency investments, has been viewed positively by the market. Mizuho's upgrade of MicroStrategy and Coinbase, based on their Bitcoin holdings and adoption trends, further underscores the growing confidence in Bitcoin's long-term value proposition.
The ProShares Short Bitcoin Strategy ETF (BITI) experienced a decline, dropping 1.14% to $21.76 at 12:20 PM on Wednesday, January 29.