The Federal Reserve's decision to maintain interest rates at 4.25%-4.50% has been a key factor in today's positive sentiment in the cryptocurrency market, particularly for Bitcoin. Fed Chair Jerome Powell's remarks on banks serving crypto customers under specific risk disclosure requirements have further supported this 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 the bullish outlook, reflecting growing institutional interest in the cryptocurrency ecosystem.
The 2x Bitcoin Strategy ETF (BITX) has responded positively to these developments, rising 3.29% to $64.45 as of 11:20 AM on Thursday, January 30.