The anticipation surrounding new tariff policies under President Trump's administration has created a cautious atmosphere in the market, impacting Bitcoin's price movement. The announcement of tariffs on China, Mexico, and Canada has led investors to brace for potential economic repercussions. Robert Kiyosaki, author of "Rich Dad Poor Dad," has suggested that these tariffs could lead to a decline in Bitcoin prices, viewing it as a buying opportunity amid concerns over the growing debt burden. Additionally, the U.S. Securities and Exchange Commission's (SEC) decision to delay its ruling on Grayscale's Digital Large Cap Fund's conversion into an ETF has added to the uncertainty, leaving investors in anticipation of how such regulatory changes could affect the market.
The Proshares Ultra Bitcoin ETF (BITU) experienced a volatile trading session, with its price reaching a high of $62.08 and a low of $56.59, ultimately settling at $57.30 as of 8:40 AM on Saturday, February 1.