Cryptocurrency ETFs collectively declined, as of press time, Bosera Ethereum (03009) fell 8.97%, to HKD 18.97; Huaxia Ethereum (03046) fell 8.88%, to HKD 5.955; Jiashi Ethereum (03179) fell 8.77%.
According to the Smart Finance APP, cryptocurrency ETFs collectively declined. As of press time, Bosera Ethereum (03009) fell 8.97%, to HKD 18.97; Huaxia Ethereum (03046) fell 8.88%, to HKD 5.955; Jiashi Ethereum (03179) fell 8.77%, to HKD 5.98; Huaxia Bitcoin (03042) fell 5.8%, to HKD 7.385.
On the news side, cryptocurrencies in general have fallen. Bitcoin is currently down nearly 6%, breaking the $0.06 million mark; Ethereum briefly fell below the $2400 mark, with an intraday drop of over 9%. Analysts say that cryptocurrencies are giving back gains made after Federal Reserve Chairman Powell's dovish speech last Friday. Powell previously announced at the Jackson Hole Symposium that the time for rate cuts has come. In addition, analysts have pointed out that Bitcoin miners' mining costs are as high as $72,224 per coin, far higher than the current price of Bitcoin, which could create selling pressure in the market.
