Hong Kong stock market anomaly | Bitcoin briefly fell below $67,000, MEITU dropped nearly 5%, GRANDSHORES fell over 3%.

Zhitong
2024.03.15 07:13
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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.