Bitcoin falls below $80K on Fed hawk fears, hurting crypto ETFs. Liquidity worries linger despite regulatory clarity and AI hopes.
ProShares Shrt Bitcoin ETF aims to achieve daily investment results that correspond to the inverse (-1x) of Bitcoin's daily performance. The ETF provides a way for investors to profit from declines in Bitcoin pricing, offering a hedge or speculation against cryptocurrency market downturns. One of my favorite momentum-based trading formulas flashed a buy signal for BITI at the end of last week.
Wall Street slumped last week, mainly due to less-dovish Fed cues for 2025.
Wall Street has experienced a robust upswing in May but few investing areas have fallen short of the broader market rally.