HK Stock Market Move | Concept stocks related to cryptocurrency continue to fall, the price of Bitcoin has not yet reached a fully adjusted range, and the market still faces significant downward risk.

Concept stocks of cryptocurrencies continue to decline. As of the time of writing, OSL GROUP (00863) fell by 6.65% to 15.45 Hong Kong dollars; Yunfeng Financial (00376) fell by 6.12% to 5.52 Hong Kong dollars; OKG TECH (01499) fell by 4.35% to 0.33 Hong Kong dollars; LINEKONG (08267) fell by 1.59% to 0.62 Hong Kong dollars; BOYAA (00434) fell by 1.35% to 6.6 Hong Kong dollars. On the news front, as of October 13th, Bitcoin broke above $115,000 during the intraday session, rising 4.25% in the past 24 hours, with a short-term rise of nearly $1000. According to CoinGlass data, in the last 24 hours, a total of 183,988 people worldwide were liquidated in the cryptocurrency market, with a total liquidation amount of $630 million. The market crash was triggered by Trump's tariff threats, which caused investors to flock to safe-haven assets such as gold and US treasuries. A trader who accurately predicted the cryptocurrency crash in 2022 warned that the cryptocurrency market may be facing a new "black swan" event, and the downside risks are still significant. The trader emphasized that although Bitcoin has held the $100,000 mark, it has not yet reached the "fully adjusted range of $60,000 to $70,000," indicating that the downside risks are still significant until a solid bottom is established in the market. It is understood that since 2025, the price of Bitcoin has experienced multiple fluctuations, fluctuating upwards near the $95,000 mark at the beginning of the year. In April 2025, Bitcoin briefly fell below $80,000, but then rose month after month, breaking through several psychological price levels such as $100,000, $110,000, $120,000, etc., continuously setting new all-time highs. Some industry insiders point out that market uncertainty has led to a sharp drop in risky assets, leading to a surge in demand for downside protection in the derivatives market. The dynamics of the options market may impact the price movements of the underlying market more than ever before.