ETF Volatility | Southern Double Short MSTR surged nearly 40% during the session as Bitcoin repeatedly tests the $60,000 level, facing financing difficulties in Strategy
Southern Double Short MSTR surged nearly 40% during intraday trading, and as of the time of writing, it rose 29.5% to HKD 79.54, with a transaction volume of HKD 13.4494 million. On the news front, cryptocurrencies have recently experienced consecutive declines, with Bitcoin testing the $60,000 mark multiple times. According to reports from Securities China, Bitcoin has been leading the downward trend, primarily impacted by two major bearish factors: first, Bitcoin options worth nearly $10 billion are set to expire on June 26; second, rising expectations of interest rate hikes by the Federal Reserve have strengthened the dollar, putting pressure on risk assets led by Bitcoin due to tightening liquidity. Additionally, many industry insiders have indicated that the recent performance of the cryptocurrency market has been challenging, as investors grow increasingly concerned about the financing situation of Strategy, led by Michael Saylor. With Bitcoin prices remaining below $60,000 for an extended period, Strategy is facing billions of dollars in paper losses, coupled with rising financing costs and a significant drop in the price of its preferred shares STRC, leading more investors to question whether this financing model can continue to operate
According to Zhitong Finance APP, the Southbound 2x Short MSTR (07399) surged nearly 40% during the trading session, and as of the time of writing, it has risen 29.5%, priced at HKD 79.54, with a transaction volume of HKD 13.4494 million.
On the news front, cryptocurrencies have recently experienced consecutive declines, with Bitcoin testing the $60,000 mark multiple times. According to Securities China, Bitcoin has been leading the downward trend, primarily impacted by two major bearish factors: first, Bitcoin options worth nearly $10 billion are set to expire on June 26; second, rising expectations of interest rate hikes by the Federal Reserve have strengthened the dollar, putting pressure on risk assets led by Bitcoin due to tightening liquidity.
In addition, many industry insiders have indicated that the recent performance of the cryptocurrency market has been sluggish, as investors are increasingly concerned about the financing situation of Strategy, owned by Michael Saylor. With Bitcoin prices remaining below $60,000 for an extended period, Strategy is facing billions of dollars in paper losses, alongside rising financing costs and a significant drop in the price of its preferred shares STRC, leading more investors to question whether this financing model can continue to operate
