Cryptocurrency ETFs and associated stocks continued their downward trajectory. At the time of writing, Bosera Bitcoin ETF (03008) fell 7.47% to HK$5.02. Huaxia Bitcoin ETF (03042) dropped 7.48% to HK$7.98. Huaxia Ethereum ETF (03046) declined 7.47% to HK$4.58. MEMESTRATEGY (02440) plunged 10.13% to HK$1.42. The declines followed a significant drop on Friday that saw Bitcoin fall below the $65,000 mark. As leveraged positions were forcibly liquidated and risk assets faced broad pressure, market sentiment weakened considerably, accelerating the selloff in cryptocurrencies and completely erasing the gains seen after U.S. President Trump's election victory. At the latest update, Bitcoin was trading around $64,680.2, while Ethereum tumbled over 11% to $1,919. Earlier, U.S. Treasury Secretary Scott Bessent suggested that the U.S. government would not bail out the cryptocurrency sector. Ilan Solot, Senior Global Market Strategist at Marex, noted that the downturn was driven by a combination of factors: a pullback in tech stocks, strength in gold, a general rise in risk-off sentiment, and a market reassessment of the valuation rationale for crypto assets. Furthermore, contract trading on the decentralized prediction platform Polymarket reflected significantly bearish investor sentiment. Data from the platform indicated an 82% implied probability that Bitcoin would fall to $65,000 this year, a level approximately 13% below the current price.