The Proshares Ultra Bitcoin ETF (BITU) closed down 5.43% at $52.26 on February 4, 2025, as Bitcoin's price fell 4.27% to $97,141.77 amid escalating U.S.-China trade tensions. China's imposition of additional tariffs on U.S. imports, including a 15% tax on coal and liquefied natural gas, has rattled investor confidence, leading to a risk-off sentiment in the cryptocurrency market. This geopolitical uncertainty has resulted in a pullback in Bitcoin's price, as traders seek safer investments. The decline in open interest in Bitcoin futures contracts further indicates a cautious stance among institutional investors. Additionally, the anticipation of a press conference by David Sacks, the AI and crypto czar, has kept traders on edge, as potential regulatory changes and the approval of crypto exchange-traded funds could influence market sentiment.