Bitcoin Plunges Toward $110K — Hong Kong Crypto Stocks Crash Across the Board
Source Tradingkey
TradingKey – On Wednesday, August 20, Bitcoin (BTC) extended its decline, falling another 1.6% in the past 24 hours to a low of $112,000, its weakest level since August 2. The continued sell-off in BTC triggered a sharp correction in Hong Kong-listed crypto-related equities during the Asian midday session.
Bitcoin Price Chart – Source: CoinMarketCap
Crypto-linked stocks on the Hong Kong Stock Exchange (HKEX) saw steep losses:
- Xinhua Technology Holdings (01611.HK) plunged nearly 13%
- Pioneer Pharma (00399.HK) dropped over 9%
- OKG Technology Holdings (01499.HK) fell more than 8%
- OLS Group (00863.HK), Yunfeng Financial Group (00376.HK), and VSTECS Holdings (00856.HK) each declined over 5%
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Musk says Tesla could hit $100 Trillion, but needs "enormous work"Elon Musk acknowledged over the weekend that getting Tesla to a $100 trillion company value would demand massive effort and fortune. The statement came after investors suggested this sky-high number could happen if his various businesses merge together. Right now, Tesla sits at $1.5 trillion in market value. Getting to $100 trillion would mean multiplying […]
Elon Musk acknowledged over the weekend that getting Tesla to a $100 trillion company value would demand massive effort and fortune. The statement came after investors suggested this sky-high number could happen if his various businesses merge together. Right now, Tesla sits at $1.5 trillion in market value. Getting to $100 trillion would mean multiplying […]
Lyn Alden says the Federal Reserve is likely entering a gradual phase of money printing rather than aggressive stimulus.
Global interest in crypto is at a year-long low, with Google searches dropping as the market cap falls 43%.
Arthur Hayes, the co-founder of BitMEX, suggested that institutional dealer hedging is exacerbating the recent downward pressure on Bitcoin prices.In a February 7 post on X, Hayes pointed to structure
BitMine, the largest corporate holder of Ethereum, has capitalized on the digital asset’s recent price volatility to expand its treasury holdings.On February 7, blockchain analysis platform Lookonchai
