Cryptocurrency ETFs Experience Significant Declines Amid Market-Wide Sell-Off

Stock News14:49

Cryptocurrency ETFs are leading the market decline. As of press time, the Bosera Bitcoin ETF (03008) fell by 5.18% to HKD 5.585. The ChinaAMC Ethereum ETF (03046) dropped by 5.1% to HKD 4.65. The Bosera Ethereum ETF (03009) decreased by 5.19% to HKD 1.498. The ChinaAMC Bitcoin ETF (03042) declined by 3.96% to HKD 8.855.

On the news front, the cryptocurrency market experienced a broad sell-off on May 28. As of press time, Bitcoin fell below $73,000, marking a daily decline of over 3% and hitting its lowest level since April 13. Ethereum dropped nearly 5%.

In related developments, the Public Relations Department of Iran's Islamic Revolutionary Guard Corps issued a statement on the 28th, stating that following a U.S. military airstrike on a site in the suburbs of Bandar Abbas port in the early hours, the Revolutionary Guard retaliated by striking the U.S. Air Force base that launched the attack.

Furthermore, the chief market strategist at JonesTrading previously noted that the global bond market is undergoing a sell-off, driving up interest rates and simultaneously heightening risk aversion towards high-risk assets, including cryptocurrencies.

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