Bitcoin's price movement today has been shaped by a mix of macroeconomic stability and geopolitical tensions. The Federal Reserve's decision to keep interest rates steady at 4.25%-4.50% has bolstered confidence in risk assets, including Bitcoin. Fed Chair Jerome Powell's remarks on the necessity for further inflation progress before rate cuts have been positively received, enhancing investor sentiment towards digital currencies. Additionally, President Trump's fintech initiatives, such as the launch of Truth.Fi, have injected renewed optimism into the crypto market. However, the announcement of a 25% tariff on Mexico and Canada has introduced volatility, causing a temporary dip in Bitcoin's price. Despite this, Bitcoin has shown resilience, maintaining its position above the $105,000 threshold.
The ProShares Bitcoin Strategy ETF (BITO) experienced a modest increase, rising 0.71% to $25.49 as of 5:20 PM on Thursday, January 30.