🔴 Leveraged Bitcoin ETF (BITU) is trading 3.58% down today as hot September CPI revives Fed rate-hike concerns

BITU is trading at $13.88, down -3.58%, as Bitcoin’s decline pressures the leveraged ETF.

• Hot September CPI came in at 3.7% year over year versus 3.6% expected, reviving Fed rate-hike concerns and weighing on Bitcoin.
• Bitcoin losses extended during a broad risk-off selloff in Asian markets, adding pressure to crypto assets.
• As a leveraged Bitcoin ETF, BITU is directly exposed to Bitcoin’s decline.