Hong Kong Stock Market News | Bitcoin price plunges during trading, New Fire Technology Holdings drops over 7%, BC Technology Group falls nearly 4%.
New Fire Technology Holdings and BC Technology Group have seen continuous increases in their stock prices recently, but both fell from their highs today. As of the time of writing, New Fire Technology Holdings fell by 6.96% to HKD 2.14, while BC Technology Group fell by 3.83% to HKD 9.55. On the news front, on December 11th, according to Bitstamp, the price of Bitcoin plunged during the day, falling by 4.44% and briefly approaching $40,500, a drop of over $3,000 from the intraday high. It is worth noting that Bitcoin has accumulated a gain of over 145% so far this year. It is reported that negotiations between the issuer of Bitcoin spot ETFs and the U.S. SEC have entered a critical stage of detailed discussions. In addition, the expectation of a rate cut by the U.S. Federal Reserve has fueled excitement in the cryptocurrency market, driving the recent surge in Bitcoin prices. However, industry insiders have expressed that if the Bitcoin ETF is rejected by U.S. regulatory agencies again, this round of Bitcoin rally may come to an end and experience a sustained pullback.
Zhitong Financial APP learned that the share prices of Xinhuo Technology Holdings (01611) and BC Technology Group (00863) have continued to rise recently and both fell back to their high levels today. As of press release, Xinhuo Technology Holdings fell 6.96 per cent to HK $2.14. BC Technology Group fell 3.83 per cent to HK $9.55. On the news, on December 11, according to Bitstamp quotations, Bitcoin plunged in intraday trading, falling 4.44 per cent in the day, approaching $40500 at one point, down more than $3000 from its intraday high. It is worth noting that bitcoin has gained more than 145 percent so far this year. It is reported that the bitcoin in stock ETF issuers and the U.S. SEC negotiations have entered a critical stage of detail, coupled with the Fed's interest rate cut is expected to heat up, triggering excitement about the cryptocurrency market, driving the recent surge in bitcoin prices. However, some industry insiders said that if the Bitcoin ETF is rejected by US regulators again, the current round of Bitcoin rally may come to an end and continue to pull back.