---
title: "Hong Kong Stock Market News | BC Technology Group's stock price drops more than 8% during trading, with a cumulative decline of nearly 60% since the beginning of the year. Bitcoin prices continue to be under pressure."
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/106785624.md"
description: "BC Technology Group's stock fell more than 8% during trading, and its stock price has dropped by 57% since the beginning of the year. As of the time of writing, it has fallen by 5.65% to HKD 5.18, with a turnover of HKD 8.2766 million. On the news front, since the US SEC approved 11 Bitcoin spot ETFs on January 11th, the price of Bitcoin has experienced multiple significant declines. This Tuesday, Bitcoin fell to $38,900, a 20.6% drop from its previous three-year high. JPMorgan pointed out that the price of Bitcoin has come under pressure, falling below $40,000, and the enthusiasm for spot ETFs may further diminish, leading to price declines and reduced trading volume, as well as a decrease in auxiliary revenue opportunities for companies like Coinbase. Deutsche Bank conducted a survey of 2,000 retail investors in the United States, the United Kingdom, and Europe after the listing of Bitcoin ETFs. More than one-third of the respondents stated that by the end of the year, the price of Bitcoin will fall below $20,000, and more people expect the cryptocurrency to disappear. Deutsche Bank pointed out that this negative sentiment is due to past lessons, such as the collapse of the cryptocurrency exchange FTX and the TerraUSD crash, combined with the tightening regulatory trend in the United States, which has collectively led to a lack of confidence among retail investors."
datetime: "2024-01-26T07:18:06.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/106785624.md)
  - [en](https://longbridge.com/en/news/106785624.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/106785624.md)
---

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# Hong Kong Stock Market News | BC Technology Group's stock price drops more than 8% during trading, with a cumulative decline of nearly 60% since the beginning of the year. Bitcoin prices continue to be under pressure.

Zhitong App learned that BC Technology Group (00863) fell more than 8% during trading, with its stock price down 57% since the beginning of the year. As of the time of writing, it has dropped 5.65% to HKD 5.18, with a turnover of HKD 8.2766 million.

On the news front, since the US SEC approved 11 Bitcoin spot ETFs on January 11th, the price of Bitcoin has experienced multiple significant declines. This Tuesday, Bitcoin fell to $38,900, a 20.6% drop from its previous three-year high. JPMorgan pointed out that the price of Bitcoin has come under pressure, falling below $40,000, and the enthusiasm for spot ETFs may further diminish, leading to price declines and reduced trading volume. This will also result in reduced auxiliary revenue opportunities for companies like Coinbase.

Deutsche Bank conducted a survey of 2,000 retail investors in the United States, the United Kingdom, and Europe after the listing of Bitcoin ETFs. More than one-third of the respondents stated that by the end of the year, the price of Bitcoin will fall below $20,000, and more people expect the cryptocurrency to disappear. Deutsche Bank pointed out that this pessimistic sentiment is due to various past lessons, such as the collapse of the cryptocurrency exchange FTX and the TerraUSD crash, combined with the tightening regulatory trend in the United States, which has collectively led to a lack of confidence among retail investors.

### Related Stocks

- [Deutsche Bank AG (DBK.DE)](https://longbridge.com/en/quote/DBK.DE.md)
- [OSL GROUP (00863.HK)](https://longbridge.com/en/quote/00863.HK.md)
- [Deutsche Bank Aktiengesellschaft (DB.US)](https://longbridge.com/en/quote/DB.US.md)
- [Coinbase Global, Inc. (COIN.US)](https://longbridge.com/en/quote/COIN.US.md)

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