Movement Alert｜2x Bitcoin Strategy ETF Rises 8.92% in Pre-Market Trading, Bitcoin Breaks $71,000 Triggering Historic Short Squeeze

Market Focus

Aug 21

On August 21, 2x Bitcoin Strategy ETF rose 8.92% in pre-market trading, trading at $16.9095/share, with turnover of $2.5628 million.

On the news front, Bitcoin surged past $71,000, gaining over 10% within 24 hours and triggering the largest short liquidation wave on record since 2021. Over 180,000 traders were liquidated globally, with total liquidation volume reaching a record $3.264 billion. Additionally, declining borrowing costs provided further tailwinds for risk assets, while a crowded short structure met multiple catalysts, resulting in concentrated price release.

Meanwhile, U.S. Bitcoin spot ETFs recorded a combined net inflow of $517.19 million on August 19, the highest single-day net inflow since May 4, signaling strong institutional demand. As a 2x leveraged Bitcoin futures ETF, BITX amplifies the performance of its underlying asset, directly reflecting the explosive upside in Bitcoin prices.

The fund generally invests in Bitcoin Futures Contracts through its Subsidiary and in Collateral Investments. The index measures the performance of the return from a rolling long position in the two nearest maturing Bitcoin futures contracts trading on the CME. The fund is non-diversified.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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