The Federal Reserve's decision to maintain interest rates has created a stable environment for risk assets, including cryptocurrencies, which has positively impacted Bitcoin's price. This stability, coupled with the European Central Bank's recent rate cut, has fostered a more accommodative global monetary policy environment, further boosting investor confidence in digital assets. Additionally, the announcement by Trump Media to allocate a significant portion of its cash reserves to Bitcoin has injected fresh enthusiasm into the market. This institutional endorsement, along with optimistic forecasts from crypto analysts, has contributed to Bitcoin's upward momentum.
The 2x Bitcoin Strategy ETF (BITX) has responded to these developments, rising 2.21% to $63.78 as of 1:00 PM on Thursday, January 30.