The 2x Bitcoin Strategy ETF (BITX) closed down 7.43% at $52.18 on December 23, as Bitcoin's price fell 1.09% to $94,054.35 amid a broader market downturn. Bitcoin's decline was influenced by the Federal Reserve's recent hawkish stance, which signaled fewer rate cuts in 2025 than previously anticipated, causing investor concern. This sentiment was compounded by Bitcoin's largest weekly loss since August, an 8.8% drop to nearly $95,000 last week. The market's cautious outlook was further fueled by the Fed's decision to lower its benchmark interest rate by only 25 basis points, with expectations of just two rate cuts next year. Additionally, the cryptocurrency market faced significant outflows, with Bitcoin ETFs experiencing a record $1 billion withdrawal last week, reflecting investor apprehension. Despite these challenges, some market participants view the current dip as a potential buying opportunity, given Bitcoin's historical resilience and ongoing institutional interest.