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Leveraging ETFs linked to Strategy have plunged nearly 50% in the past five days

Internet reports that the prices of two leveraged ETFs linked to Strategy (MSTX and MTSU) have plunged nearly 50% in the past five days. Previously, Bitcoin fell below $87,000 on Tuesday. As of Tuesday's close AEST, MSTX was trading at $23.83 per share and MTSU was trading at $4.94 per share, down sharply from last week's prices of more than $43 and $9, respectively. At the same time, Strategy (formerly MicroStrategy) shares fell nearly 10% to about $255 a share. Geoffrey Kendrick, global head of digital asset research at Standard Chartered Bank, said on Tuesday that risk aversion in traditional markets is affecting the digital asset industry.

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