Bitcoin Plunges Toward $110K — Hong Kong Crypto Stocks Crash Across the Board
TradingKeyAug 20, 2025 5:43 AM
TradingKey – On Wednesday, August 20, Bitcoin (BTC) extended its decline, falling another 1.6% in the past 24 hours to a low of $112,000, its weakest level since August 2. The continued sell-off in BTC triggered a sharp correction in Hong Kong-listed crypto-related equities during the Asian midday session.
Bitcoin Price Chart – Source: CoinMarketCap
Crypto-linked stocks on the Hong Kong Stock Exchange (HKEX) saw steep losses:
- Xinhua Technology Holdings (01611.HK) plunged nearly 13%
- Pioneer Pharma (00399.HK) dropped over 9%
- OKG Technology Holdings (01499.HK) fell more than 8%
- OLS Group (00863.HK), Yunfeng Financial Group (00376.HK), and VSTECS Holdings (00856.HK) each declined over 5%
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