Escalating trade tensions between the U.S. and China have significantly impacted the cryptocurrency market, with Bitcoin experiencing heightened volatility. On February 4, 2025, China's announcement of additional tariffs on U.S. imports, including a 15% tax on coal and liquefied natural gas, and a 10% tax on crude oil, agricultural machinery, and vehicles, has rattled investor confidence. This move follows the U.S.'s imposition of tariffs on Chinese goods, further intensifying the trade war. As a result, Bitcoin, often seen as a risky asset, has been affected by the broader market's risk-off sentiment, leading to a decline in its price. Analysts warn that if U.S.-China negotiations do not progress, the cryptocurrency market could face further losses.
The ProShares Ultra Bitcoin ETF (BITU) is currently priced at $53.93, reflecting a 2.41% decrease from its previous close.