BITU is trading at $13.63 (-3.61%) in pre-market as the stronger-than-expected August employment report increased expectations for a September Federal Reserve rate hike, pressuring Bitcoin.
- Bitcoin remains below $80,000 and fell as much as 3.5% following the jobs data.
- Iran-related tensions, elevated oil prices, and higher-rate concerns continue pressuring risk assets; BITU’s leveraged Bitcoin exposure amplifies the cryptocurrency decline.
- Broader U.S. futures are also lower, reinforcing the cautious risk-off backdrop.