BITX is trading 2.33% down now at $18.00 after Bitcoin weakened following the settlement of approximately $6.4 billion in options, which removed hedging flows that had supported prices near $80,000.
- Bitcoin was reported at $79,132.61, down $574.57 from the previous morning.
- Traders are cautious ahead of Federal Reserve Chair Kevin Warsh’s Jackson Hole speech, adding macro sensitivity to the leveraged ETF.