TechFlow News, February 3: According to the South China Morning Post, despite Bitcoin’s sharp weekend decline to its lowest level in 10 months, Hong Kong cryptocurrency investors remain cautiously optimistic. On Monday, Bitcoin fell to $74,541—down roughly 40% from its all-time high of $126,000. Other major cryptocurrencies also weakened: Ethereum dropped over 15% since Friday evening, and Solana declined more than 12%.
Evan Auyang, Group President of digital asset firm Animoca Brands, stated that macroeconomic pressures have severely impacted the crypto market. James Aitchison, founder of crypto hedge fund Caerus Global Management, noted that this downturn was initially triggered by a sharp sell-off in precious metals markets over the weekend and amplified by low weekend trading volumes and Bitcoin’s breach of the psychological $80,000 threshold. Professional investors in Hong Kong generally view such volatility as “business as usual.”
