HK Stock Market Move | Cryptocurrency concept stocks fall again as Bitcoin drops below $73,000, further decline may trigger chain reaction

Concept stocks of encrypted currencies fell again in the morning session, with MEMESTRATEGY (02440) down 4.76% to HK$1.6, GRANDSHORES (01647) down 1.37% to HK$0.072, and OKG TECH (01499) down 0.58% to HK$0.17. On the news front, on Tuesday, Bitcoin briefly fell below $73,000, breaking the year-to-date low set on April 7, 2025 after the announcement of equivalent tariffs by Trump. "Big short" Barry warned that if the price of Bitcoin continues to fall, it could quickly intensify pressure on the balance sheets of major holders, forcing the entire cryptocurrency ecosystem to sell off, triggering a widespread collapse in value. Alex Thorn, research director at Galaxy, predicts that the downward trend in Bitcoin may further accelerate, pushing the price below $60,000 per coin. The lack of hedging against currency devaluation when gold prices soar, as well as the lack of recent catalysts, are reasons for Bitcoin to continue to decline.