MST is trading 7.74% down at $10.95 in pre-market, in line with risk-off pressure across crypto and technology markets. - The Defiance Leveraged Long + Income MSTR ETF uses derivatives to gain exposure to MSTR and may be indirectly affected by Bitcoin trends. - Strategy’s Q3 revenue missed estimates, and its shares fell after hours. - A broader overnight sell-off is also reported; available evidence points to market and underlying-asset pressure, not an MST-specific announcement.