Defiance Daily Target 2X Long IREN ETF is trading 13.9% down today as it amplifies a continued selloff in its underlying mining stock Iris Energy (IREN) and broader crypto-linked equities.
- A multi-day downturn in Bitcoin and other digital assets is weighing heavily on the crypto sector.
- Risk-off sentiment toward high-beta tech and crypto names is driving disproportionate downside in this 2x leveraged product.