The ProShares Short Bitcoin Strategy ETF has been impacted by Bitcoin's recent price movements, which have been driven by a mix of macroeconomic and geopolitical factors. The Federal Reserve's decision to keep interest rates steady has provided a stable environment for risk assets, including Bitcoin, bolstering investor confidence. Additionally, President Trump's fintech initiatives have injected new enthusiasm into the crypto market. However, the announcement of potential tariffs on Mexico and Canada has introduced volatility, causing a temporary pullback in Bitcoin's price. Despite these challenges, Bitcoin has shown resilience, maintaining its position above the $105,000 mark.
The ProShares Short Bitcoin Strategy ETF (BITI) experienced a decline, dropping 0.75% to $21.20 as of 5:20 PM on Thursday, January 30.