The Federal Reserve's decision to maintain interest rates at 4.25%-4.50% has been positively received by the cryptocurrency market, creating a stable environment for risk assets like Bitcoin. Fed Chair Jerome Powell's remarks on banks serving crypto customers, provided they adhere to risk disclosure requirements, have further boosted market sentiment. Additionally, President Trump's fintech and crypto initiatives, including the launch of Truth.Fi, have injected fresh enthusiasm into the market. The introduction of Grayscale's Bitcoin Miners ETF (MNRS) has also contributed to today's price action, reflecting growing institutional interest in the cryptocurrency ecosystem.
The ProShares Bitcoin Strategy ETF (BITO) rose 1.54% to $25.70 as of 11:20 AM on Thursday, January 30.