The ProShares UltraShort Bitcoin ETF (SBIT) closed up 3.08% at $10.38 on February 5, as Bitcoin's price faced downward pressure amid macroeconomic and regulatory developments. Bitcoin's price, down 0.48% to $97,342.71, was influenced by a stronger-than-expected U.S. private payrolls report, which showed the addition of 183,000 jobs in January. This robust job growth suggests that the Federal Reserve might maintain higher interest rates for a longer period, potentially delaying anticipated rate cuts and exerting downward pressure on risk assets like Bitcoin. Additionally, the U.S. Securities and Exchange Commission's decision to scale back its crypto enforcement unit has been perceived as a regulatory shift favorable to the crypto industry, contributing to market volatility. The ongoing U.S.-China trade negotiations and recent retaliatory actions from China have added layers of uncertainty, further influencing Bitcoin's price dynamics.