Hong Kong stock market anomaly | Bitcoin briefly fell below $67,000, MEITU dropped nearly 5%, GRANDSHORES fell over 3%.
Bitcoin-related stocks are down, as of the time of writing, MEITU fell by 4.82% to HKD 3.16, GRANDSHORES dropped by 3.57% to HKD 0.081, and OKG TECH declined by 3.45% to HKD 0.28. On the news front, Bitcoin saw a significant drop today, falling below $67,000 per coin at one point, after hitting a historical peak of nearly $73,798 just a day ago. A research report by JPMorgan at the end of February suggested that after the halving event in April, the price of Bitcoin could drop to $42,000. In addition, Michael Hartnett, Chief Investment Strategist at Bank of America, stated that with the record surge of the "Big Seven" tech stocks and the all-time highs of cryptocurrencies, the market is showing signs of a bubble. These comments have sparked a debate on Wall Street about whether many markets are vulnerable to a pullback.
Zhitong App learned that stocks related to Bitcoin are falling. As of the time of publication, MEITU (01357) dropped by 4.82% to HKD 3.16, GRANDSHORES (01647) fell by 3.57% to HKD 0.081, and OKG TECH (01499) decreased by 3.45% to HKD 0.28.
On the news front, Bitcoin experienced a significant decline today, dropping below $67,000 per coin at one point, after hitting a historical peak of nearly $73,798 just a day ago. In a research report at the end of February, JPMorgan Chase pointed out that after the halving event in April, the price of Bitcoin may fall to $42,000.
Furthermore, Michael Hartnett, Chief Investment Strategist at Bank of America, stated that with the tech "Big Seven" stocks soaring to record highs and cryptocurrencies hitting historical peaks, the market is showing signs of a bubble. This statement has sparked a debate on Wall Street about whether many markets are vulnerable to a pullback.