Understanding the Market | Cryptocurrency ETFs and related concept stocks decline as Powell states the Federal Reserve is not allowed to hold Bitcoin, leading to a significant drop in Bitcoin prices
Cryptocurrency ETFs and related concept stocks collectively fell. As of the time of writing, Blueport Interactive dropped 5.45%, trading at HKD 0.52; OSL Group fell 4.6%, trading at HKD 7.67; Huaxia Ether dropped 5.93%, trading at HKD 8.725; and Harvest Ether fell 5.51%, trading at HKD 8.825. In terms of news, Bitcoin once dropped nearly 6% during the day, marking the largest single-day decline since August. As of the time of writing, Bitcoin hovered around USD 100,000. Powell stated that the Federal Reserve is not allowed to hold Bitcoin and has not sought to amend the laws regarding whether it can hold Bitcoin. Previously, driven by Trump's victory in the U.S. election, Bitcoin entered a surge mode, reaching over USD 108,000 on Tuesday, setting a new historical high for the second consecutive day
According to Zhitong Finance APP, cryptocurrency ETFs and related concept stocks have collectively declined. As of the time of publication, Blueport Interactive (08267) fell by 5.45%, trading at HKD 0.52; OSL Group (00863) dropped by 4.6%, trading at HKD 7.67; Huaxia Ether (03046) decreased by 5.93%, trading at HKD 8.725; and Harvest Ether (03179) fell by 5.51%, trading at HKD 8.825.
In terms of news, Bitcoin once dropped nearly 6% during the day, marking the largest single-day decline since August. As of the time of publication, Bitcoin is hovering around USD 100,000. Powell stated that the Federal Reserve is not allowed to hold Bitcoin and has not sought to amend the laws regarding whether it can hold Bitcoin. Previously, driven by Trump's victory in the U.S. election, Bitcoin entered a surge mode, reaching over USD 108,000 on Tuesday and setting a new historical high for the second consecutive day