HK Stock Market Move | Cryptocurrency ETFs are all on the rise, with Bitcoin surpassing $62,000. The rate cut by the Federal Reserve further fuels market optimism.

Cryptocurrency ETFs are all rising, as of the time of writing, Harvest Bitcoin Spot ETF (03439) has increased by 5.60% to 7.725 Hong Kong dollars; Bosera HashKey Bitcoin ETF (03008) has increased by 5.43% to 48.12 Hong Kong dollars; ChinaAMC Bitcoin ETF (03042) has increased by 5.21% to 7.67 Hong Kong dollars; ChinaAMC Ether ETF (03046) has increased by 3.76% to 5.80 Hong Kong dollars. On the news front, in the morning of September 19, Bitcoin rose more than 3% intraday, surpassing $62,000. Ethereum broke through $2,400 per coin, its first time since September 15. With market expectations of the Federal Reserve lowering interest rates to stimulate speculative asset demand, Bitcoin has seen its largest increase in over a month. Previously, the market generally believed that there was a high possibility of the Federal Reserve announcing a rate cut on Wednesday, with a probability of 55% for a 50 basis point cut. At the same time, traders have already priced in the expectation of a 25 basis point cut by the Federal Reserve, further boosting market sentiment. The recent trend of Bitcoin indicates that despite changes in global financial policies sometimes affecting market sentiment, cryptocurrencies remain a focus for investors under the expectation of rate cuts. The future trend will depend on the Federal Reserve's final decision and further market reaction.