HK Stock Market Move | Cryptocurrency ETFs and concept stocks are declining, the currency circle suffers a "bloodbath", and Bitcoin briefly falls below $76,000.

Cryptocurrency ETFs and concept stocks fell, as of the time of publication, Harvest Ether Spot ETF (03179) fell by 16.39%, to 5.46 Hong Kong dollars; ChinaAMC Ether ETF (03046) fell by 16.09%, to 5.425 Hong Kong dollars; ChinaAMC Bitcoin ETF (03042) fell by 6.87%, to 9.425 Hong Kong dollars; MEMESTRATEGY (02440) fell by 4.95%, to 1.73 Hong Kong dollars. On the news front, in the early trading session on February 2nd, Bitcoin fell below 76,000 US dollars per coin, a drop of about 40% from its peak in 2025. As of the time of publication, Bitcoin had rebounded to 77,225 US dollars per coin. According to Securities Times China on the 1st, the cryptocurrency market experienced a "bloodbath" in the past 24 hours. Bitcoin saw a significant decline, with intraday losses exceeding 7% and hitting a low of 76,000 US dollars; the second largest cryptocurrency, Ethereum, fell by more than 11%, reaching a low of 2,256 US dollars. Brian Jacobsen, Chief Economist at an American wealth management company, believes that in the coming days we may see more selling off of cryptocurrencies. In addition to cryptocurrencies, precious metals such as gold and silver, which had previously surged, also experienced a violent sell-off after Trump announced the nomination of Powell as the next Federal Reserve Chairman, leading to a sharp drop in prices.