Cryptocurrency concept stocks extended their downward trajectory. As of press time, OSL GROUP (00863) dropped 6.65% to HK$15.45; YUNFENG FIN (00376) fell 6.12% to HK$5.52; OKG TECH (01499) declined 4.35% to HK$0.33; LINEKONG (08267) dropped 1.59% to HK$0.62; BOYAA (00434) fell 1.35% to HK$6.6.
On the news front, as of October 13, Bitcoin surged above $115,000 during intraday trading, gaining 4.25% over the past 24 hours with a short-term rally of nearly $1,000. According to CoinGlass data, a total of 183,988 individuals were liquidated globally across the cryptocurrency market in the last 24 hours, with total liquidation amounts reaching $630 million.
The market selloff stemmed from Trump's tariff threats, prompting investors to flock to safe-haven assets such as gold and U.S. Treasuries. A trader who accurately predicted the 2022 cryptocurrency crash has warned that the crypto market may be facing a new "black swan" event, with downside risks remaining significant.
The trader emphasized that while Bitcoin has maintained its position above the $100,000 threshold, it remains far from reaching the "adequate adjustment zone of $60,000 to $70,000," indicating that "downside risks remain significant" before the market establishes a solid foundation.
It is understood that since the beginning of 2025, Bitcoin prices have experienced multiple fluctuations, oscillating and rising around the $95,000 level at the start of the year. In April 2025, Bitcoin once fell below $80,000, subsequently climbing for consecutive months and breaking through multiple round-number levels including $100,000, $110,000, and $120,000, continuously setting new all-time highs.
Industry professionals have noted that market uncertainty has led to a plunge in risk assets, with demand for downside protection in derivatives markets surging dramatically. Options market dynamics may be influencing underlying market price movements more than ever before.
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