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Bitcoin Plummets 40%, Investors Hope for Regulatory Relief

2/2/2026

29 6 Full Breakdown

Summary

Story summary

Hong Kong's cryptocurrency investors are cautiously optimistic after Bitcoin fell to US$74,541, its lowest in 10 months.
The drop is about 40% from its peak of over US$126,000, driven by hopes for a more favorable regulatory environment under the Trump administration.
Ethereum and Solana also declined.
James Aitchison of Caerus Global Management attributed the sell-off to a drop in precious metals and thin trading volumes.

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Story summary

Hong Kong's cryptocurrency investors are cautiously optimistic after Bitcoin fell to US$74,541, its lowest in 10 months.
The drop is about 40% from its peak of over US$126,000, driven by hopes for a more favorable regulatory environment under the Trump administration.
Ethereum and Solana also declined.
James Aitchison of Caerus Global Management attributed the sell-off to a drop in precious metals and thin trading volumes.