Hong Kong cryptocurrency investors remain cautiously optimistic despite Bitcoin's recent plunge to a 10-month low. Over the weekend, Bitcoin's price fell to $74,541, marking a 40% drop from its all-time high of $126,000. Other major cryptocurrencies also saw declines, with Ethereum down over 15% and Solana falling more than 12% since late Friday.
Evan Auyang, Group President of Animoca Brands, attributed the downturn to macroeconomic pressures affecting the crypto market. James Aitchison, founder of Caerus Global Management, highlighted that the sell-off was triggered by a sharp decline in the precious metals market and exacerbated by low trading volumes and Bitcoin breaking below the $80,000 level. Despite the volatility, professional investors in Hong Kong view such fluctuations as typical market behavior.
Hong Kong Crypto Investors Maintain Optimism Despite Bitcoin's Decline
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