Defiance Daily Target 2X Long IREN ETF is trading 5.5% up today as its underlying asset, IREN Limited, bounces back from a sharp three-day slide sparked by the May U.S. jobs report and resulting interest rate fears.
- Short-term traders are buying the dip in Bitcoin-sensitive, high-beta names as broader equity markets move modestly higher and risk sentiment stabilizes.
- The ETF’s 2x leveraged structure is significantly amplifying the recovery move of the underlying IREN shares.