HK Stock Market Move | Bitcoin has fallen by nearly 10% in the past month, LINEKONG (08267) has dropped more than 12%, and GOLDSTREAM INV (01328) has fallen by almost 11%.

Cryptocurrency concept stocks are generally falling, as of the time of writing, LINEKONG (08267) fell 12.5%, to 0.245 Hong Kong dollars; GOLDSTREAM INV (01328) fell 10.86%, to 2.71 Hong Kong dollars; HASHKEY HLDGS (03887) fell 7.35%, to 4.54 Hong Kong dollars; OKG TECH (01499) fell 4%, to 0.168 Hong Kong dollars. On the news front, with the ongoing turmoil in the Middle East, cryptocurrencies are once again falling. As of the time of writing, Bitcoin is hovering around $68,000. It is worth noting that since the end of February when the US attacked Iran, Bitcoin briefly broke through the $75,000 mark, but as of March 23, it has retraced nearly 10%. Some analysts believe that in emergencies, some people need to sell Bitcoin to exchange for fiat currency to buy airline tickets or daily necessities; the rise in oil prices has also prompted some groups to sell assets for liquidity. More importantly, high leverage in the derivatives market has triggered a "death spiral", where once someone sells, price drops trigger a large number of leveraged positions being liquidated, further exacerbating selling pressure.