The Zhitong Finance App learned that Bitcoin concept stocks generally declined today. As of press release, Xiongan Technology (01647) fell 8.11% to HK$0.068; OSL Group (00863) fell 5.53% to HK$8.03; Blue Port Interactive (08267) fell 4.11% to HK$0.7; and Meitu (01357) fell 1.52% to HK$3.23.
According to the news, on the morning of April 2, the virtual currency market suddenly crashed. The Bitcoin price once fell below the 66,000 US dollar integer mark, a drop of more than 6%. At one point, the price of Ethereum fell below 3,400 US dollars, a drop of more than 7%. Notably, according to HODL15Capital monitoring, Bitcoin spot ETF had a net outflow of US$88 million on April 1, of which GBTC had a net outflow of US$303 million.
Furthermore, J.P. Morgan recently released a report stating that the Bitcoin “halving” event arrived in April, which could have a serious negative impact on the profitability of Bitcoin miners. The report warns that the price of Bitcoin may plummet to 42,000 US dollars/unit as a result, more than 36% of the potential drop in the current price.