The ProShares Bitcoin Strategy ETF (BITO) closed down 2.5% on February 4, 2025, at $23.00, as Bitcoin's price fell 4.27% to $97,141.77 amid escalating U.S.-China trade tensions. China's imposition of retaliatory tariffs on U.S. goods, including a probe into Google, has rattled investor confidence, leading to a sell-off in risky assets like Bitcoin. This geopolitical uncertainty has prompted U.S. investors to withdraw a net $235 million from Bitcoin-focused ETFs, reflecting a cautious stance among institutional players. The decline in open interest in Bitcoin futures contracts further underscores the market's apprehension. Additionally, the anticipation of a press conference by David Sacks, President Trump's crypto czar, has kept traders on edge, as potential regulatory changes could impact market sentiment.