The Zhitong Finance App learned that the Bitcoin concept continued to decline in early trading. As of press release, Meitu (01357) fell 4.95% to HK$3.07; Blue Port Interactive (08267) fell 2.86% to HK$0.68; and OSL Group (00863) fell 1.36% to HK$7.96.
According to the news, due to rising US Treasury yields, Bitcoin fell below 65,000 US dollars/coin on Tuesday, the first time since March 24, that it has plummeted by about 5,000 US dollars in the past 24 hours. Bitcoin has now dropped about 11% from its all-time high on March 14. Ethereum also fell along with it.
Additionally, investors are watching the Bitcoin halving event. J.P. Morgan previously stated that the halving event 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.