HK Stock Market Move | Bitcoin concept completely plummeted, with Bitcoin falling below $100,000 for the first time since June, and Ethereum temporarily dropping by 15%.

The concept of Bitcoin plummeted across the board. As of the time of writing, GUOTAI JUNAN I (01788) fell by 6.25% to 3 Hong Kong dollars; YUNFENG FIN (00376) fell by 5.34% to 3.72 Hong Kong dollars; MEMESTRATEGY (02440) fell by 4.93% to 2.12 Hong Kong dollars; OKG TECH (01499) fell by 4.12% to 0.233 Hong Kong dollars. On the news front, on Tuesday, the price of Bitcoin accelerated its decline, falling below the $100,000 threshold for the first time since June, dropping to around $99,932 at one point, marking the second largest single-day decline of the year. Ethereum's decline widened to 15% at one point. CoinGlass data shows that over 470,000 people worldwide have been forcibly liquidated in the past 24 hours, with a total amount approaching $1.8 billion, setting a new record for single-day liquidation since August, with long positions accounting for over 90%. Analysts believe that Federal Reserve Chairman Powell's remarks after the November meeting that "whether to cut interest rates in December is far from certain" have pushed the US dollar index to a three-month high. Meanwhile, the CEOs of Goldman Sachs and Morgan Stanley both warned that US stock valuations are too high, predicting a possible 10%-20% pullback in the short term, with risk sentiment spilling over into the cryptocurrency market.