Crypto-related stocks continued their downward trend. As of press time, OKG TECH (01499) fell 8.68% to HK$0.221, OSL GROUP (00863) dropped 5.08% to HK$15.15, and BOYAA (00434) declined 3.85% to HK$4.25.

The sell-off followed Bitcoin's sharp drop early on November 17, briefly falling below the $93,000 mark and erasing more than 30% of its gains since the beginning of the year. Market analysts attribute the sustained downturn in the cryptocurrency market to capital outflows, signaling a potential period of heightened vulnerability.

Patrick Munnelly of Tickmill Group noted that major investment funds, ETF investors, and corporate treasuries have withdrawn from Bitcoin, removing a "key pillar supporting this year's rally" and ushering in a "new phase of market fragility."