Hong Kong Stocks Movement | Cryptocurrency ETFs Lead Declines as Bitcoin Drops Below $86K Amid Market Pressure

Stock News
Dec 16

Cryptocurrency ETFs led the declines in Hong Kong stocks. At the time of writing, Bosera Ethereum ETF (03009) fell 6.2% to HK$2.238, while ChinaAMC Ethereum ETF (03046) dropped 5.89% to HK$6.955. Similarly, ChinaAMC Bitcoin ETF (03042) declined 4.39% to HK$10.46, and Harvest Bitcoin ETF (03439) slid 4.37% to HK$10.51.

Market sentiment remained weak as Bitcoin briefly dropped 3.3% to $85,578 on Monday, marking a roughly 30% decline from its all-time high above $126,000. Analysts noted that the sell-off reflects mounting pressure in an environment of reduced liquidity and risk appetite, with even the Federal Reserve's recent rate cut failing to revive momentum in digital assets.

Investors are now focusing on the upcoming U.S. November nonfarm payrolls report, which will include full November data alongside partial October figures.

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