Bitcoin exchange-traded funds (ETFs) are leading the market decline. As of writing, ChinaAMC SOL (03460) fell 6.91% to HKD 3.424, Harvest Ethereum (03179) dropped 6.44% to HKD 4.996, Bosera Bitcoin (03008) decreased 5% to HKD 5.895, and ChinaAMC Bitcoin (03042) declined 4.88% to HKD 9.355.
On Monday, Bitcoin fell below $77,000. As tensions between the U.S. and Iran continue to escalate, investors worry that global inflationary pressures may intensify further, potentially forcing central banks to maintain tighter monetary policies for an extended period. The chief market strategist at JonesTrading noted that the global bond market is experiencing selling pressure, driving interest rates higher and increasing risk-off sentiment across high-risk assets, including cryptocurrencies.
Notably, several leading cryptocurrency companies have recently released their financial reports. Prominent institutions such as Coinbase, Strategy, and Bakkt reported significant declines in their first-quarter performance. According to Strategy's official financial report, the company recorded a net loss of $12.54 billion in the first quarter of 2026. During the earnings call, the CEO of Strategy indicated that the company might sell some of its Bitcoin holdings to pay dividends.
Comments