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Stock Track | 2X Bitcoin Strategy ETF Surges Over 6% on Bullish Bitcoin Outlook

Stock Track08-20

The 2X BITCOIN STRATEGY ETF (BITX) experienced a significant pre-market rally of over 6% on Sunday, driven by a bullish outlook for Bitcoin's price performance in the coming months.

According to a report from cryptocurrency exchange Bitfinex, Bitcoin ETFs have remained resilient despite market challenges, while Ethereum ETFs have struggled with capital outflows and sharp price declines. This divergence in performance highlights the continued investor confidence in Bitcoin as the fourth quarter approaches.

Bitfinex predicts that Bitcoin will follow its historical pattern of strong performance after a year of halving, with a particularly bullish fourth quarter expected. The report suggests the possibility of one final decline to find a bottom for Bitcoin in the third quarter, followed by a strong bullish trajectory.

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