The 2x Bitcoin Strategy ETF (BITX) closed at $56.37 on December 20, 2024, with a modest gain of 0.12%, despite Bitcoin's underlying price dropping 1.30% to $96,143.52. Bitcoin's decline was exacerbated by significant outflows from Bitcoin ETFs, with $680 million withdrawn on December 19, ending a 15-day streak of inflows. Major funds like Fidelity's FBTC and Grayscale's GBTC led these outflows, contributing to bearish sentiment. The Federal Reserve's recent decision to cut interest rates by 0.25% while signaling fewer cuts next year has also dampened market optimism, leading to a broader sell-off in risk assets. Bitcoin's price fell sharply, trading as low as $92,000, marking a 13.4% drop from its all-time high earlier this week. The CME futures premium fell to 9.83%, indicating weaker demand, while long-term holders sold 70,000 BTC, further pressuring prices.