Howdy guys! So, a lot of you might have this question rolling around your head, and I’d like to address it today.
The answer is simple: Bitcoin’s price
When a settlement takes place in the app, the BTCX leverage resets to 2x. Then, depending on how much the price of BTC change since then, this leverage will go up or down.
If the BTC price goes up 
, the leverage goes down 
If the BTC price goes down , the leverage goes up
It is worth noting that when you set a BTCX operation, the leverage at the moment will be fixed for you, until next settlement.
Cheers 