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 created a supportive environment for risk assets like Bitcoin. Fed Chair Jerome Powell's remarks on the necessity for further inflation progress before rate cuts have bolstered market confidence in digital assets. Additionally, President Trump's fintech initiatives, including the launch of Truth.Fi, have injected renewed optimism into the crypto market. However, the announcement of 25% tariffs on Mexico and Canada caused a temporary pullback in risk assets, including Bitcoin, which briefly dipped before recovering above the $105,000 level.
The Proshares Ultra Bitcoin ETF (BITU) experienced a rise, closing at $60.76, up 1.17% from the previous close, and currently trading at $60.98, marking a 1.53% increase as of 5:20 PM on Thursday, January 30.