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Strategy-linked leveraged ETFs have plunged nearly 50% in the past five days.

Two leveraged ETFs linked to Strategy (MSTX and MTSU) have seen their prices plunge by nearly 50% in the past five days. The move comes after Bitcoin fell below $87,000 on Tuesday. As of Tuesday's close, EST, MSTX was trading at $23.83 per share and MTSU at $4.94 per share, a sharp drop from last week's prices above $43 and $9, respectively. Meanwhile, shares of Strategy (formerly MicroStrategy) also fell by nearly 10% to about $255 per share. Geoffrey Kendrick, global head of digital asset research at Standard Chartered, said Tuesday that risk aversion in traditional markets is affecting the digital asset industry.