The Federal Reserve's decision to maintain interest rates has created a stable environment for risk assets, including cryptocurrencies, boosting investor confidence in digital assets like Bitcoin. This positive sentiment is further supported by Trump Media's announcement of Truth.Fi, which plans to allocate a significant portion of its cash reserves to Bitcoin, injecting fresh enthusiasm into the market. Additionally, the European Central Bank's recent rate cut and strong U.S. employment data have contributed to expectations of a more accommodative monetary policy globally, further supporting Bitcoin's upward trajectory. Crypto analyst Michaël van de Poppe's optimistic outlook on Bitcoin reaching a new all-time high has also fueled bullish sentiment.
The ProShares Short Bitcoin Strategy ETF (BITI) experienced a decline, dropping 0.98% to $21.15 at 1:00 PM on Thursday, January 30.