HK Stock Market Move | Bitcoin has fallen below the $80,000 mark, with cryptocurrency ETFs and related stocks leading the decline.

Cryptocurrency ETFs and related concept stocks are leading the decline. As of the time of publication, Bosera HashKey Ether ETF (03009) dropped by 10.4% to 1.43 Hong Kong dollars; Harvest Ether Spot ETF (03179) fell by 10.3% to 4.494 Hong Kong dollars; LINEKONG (08267) declined by 8.47% to 0.27 Hong Kong dollars; OSL GROUP (00863) dropped by 3.43% to 8.44 Hong Kong dollars. On the news front, on March 11th, cryptocurrency prices continued to fall, with Bitcoin dropping to a four-month low of $79,127. Analysts pointed out that concerns about tariffs and government layoffs dragging down the momentum of economic growth in the United States are putting pressure on risk assets such as cryptocurrencies. Jeff Mei, Chief Operating Officer of cryptocurrency exchange BTSE, said, "Bitcoin is likely to fall to the range of $70,000 to $80,000 in the next few weeks. Only when the tariff war ends and the Fed resumes interest rate cuts will the major cryptocurrencies return to their previous highs." It is worth noting that the White House in the United States held a cryptocurrency summit for the first time on March 7th. President Trump stated at the summit that the federal government will support the development of cryptocurrencies represented by Bitcoin and the digital asset market. On the eve of the summit, President Trump signed an executive order to establish a strategic reserve for Bitcoin. It is reported that the Bitcoin in this reserve will consist entirely of Bitcoin seized by the U.S. government in criminal and civil cases. This means that the U.S. government will not purchase any additional Bitcoin.