On October 7, T-Rex 2X Long MSTR Daily Target ETF fell 8.05% in pre-market trading, trading at $41.93 per share, with turnover of $6.3933 million. The decline was driven by a sharp drop in Bitcoin, which briefly fell below the $84,000 level, triggering concentrated liquidation pressure on leveraged long positions and directly weighing on the leveraged ETF product linked to Strategy.

Prediction market data from Polymarket showed that the probability of Bitcoin breaking above $84,000 on the day plunged from 93.05% to 52%, reflecting a rapid collapse in short-term bullish confidence. Meanwhile, US crypto-related stocks weakened collectively in overnight trading, with Strategy, Coinbase and MARA all down more than 2%, indicating a notable retreat in market risk appetite. On-chain data showed that taker order pressure and liquidation pressure oscillators both remained deeply negative, with active sell orders and forced long liquidations dominating the session.

The broader context underscores the sensitivity of this leveraged product. Strategy reported a record $21 billion in digital asset gains for the third quarter and holds approximately 848,000 Bitcoins as of early October. While the company's fundamentals remain tied to its Bitcoin treasury strategy, the leveraged ETF amplifies both upside and downside moves, making it particularly vulnerable to sudden price swings in the underlying cryptocurrency.

(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.)