According to the Financial Association on January 6 (Editor Hu Jiarong), as Bitcoin's price returned to $0.099 million, Hong Kong stocks focused on crypto concepts strengthened. As of the press time, GRANDSHORES (01647.HK), BOYAA (00434.HK), and SINOHOPE TECH (01611.HK) rose by 9.72%, 8.39%, and 4.59% respectively.

Note: The performance of cryptocurrency concept stocks in the Hong Kong stock market.

In terms of news, Bitcoin's price soared to over $0.1 million in December last year, followed by a continuous adjustment, with the price dropping to around $0.092 million at one point. The trend then gradually warmed up.

Note: Performance of Bitcoin.

As of the press time, Bitcoin rose by 1.51%, priced at $99,168.59.

Regarding Bitcoin's trend, some Analysts pointed out that it could rise above $0.125 million in the first quarter or drop to around $0.077 million, depending on whether the incoming president Donald Trump will swiftly fulfill his commitments to the cryptocurrency industry after taking office.

Whether Trump's commitments in the digital currency industry can be immediately fulfilled after his inauguration will significantly impact Bitcoin's price. His series of bullish comments and commitments regarding Bitcoin and the cryptocurrency industry, such as suggesting plans to establish a Bitcoin strategic reserve, have raised market expectations regarding his support for digital assets and plans to position the USA as a dominant force in the global crypto industry.

Meanwhile, another key catalyst for Bitcoin prices in January may be the portfolio rebalancing of Financial Institutions. Typically, hedge funds and Asset Management companies rebalance their portfolios in January to set annual Global Strategy, adapt to market conditions, and optimize tax impacts, a practice that may influence Bitcoin prices either positively or negatively.

What do USA regulators think about Bitcoin.

In a recent press conference following the monetary policy meeting, Federal Reserve Chairman Powell made it clear that the Fed has no intention of participating in any government plan to accumulate Bitcoin. He emphasized that such matters fall under the responsibility of Congress, and the Fed is not seeking to change existing laws to allow holding Bitcoin.

As for the "Bullish policies for the Digital Currency industry" promised by Trump, including plans to establish White House positions related to Cryptos and nominate Bitcoin supporters, Analysts point out that while these initiatives carry opportunities for industry growth, they also face numerous practical obstacles during implementation.

Recently, there has been bullish news in the Hong Kong virtual asset sector.

On December 27, the Hong Kong Monetary Authority's official website disclosed that the Hong Kong Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority jointly published a public consultation document to gather opinions on legislative proposals for establishing regulations regarding the issuance of stablecoin issuers. The consultation period runs from December 27, 2023, to February 29, 2024.

The focus of the aforementioned consultation document is: to implement a licensing system for fiat stablecoin issuers through new legislation, requiring all eligible fiat stablecoin issuers to obtain a license from the Financial Management Commissioner; stipulating that only designated licensed institutions can provide services for purchasing fiat stablecoins, and only fiat stablecoins issued by licensed issuers can be sold to retail investors; prohibiting the promotion of fiat stablecoin issuance by unlicensed issuers or services for purchasing fiat stablecoins provided by non-designated licensed institutions; granting the Hong Kong authorities the necessary power to adjust the scope of regulated stablecoins and activities; and providing transitional arrangements to facilitate the smooth implementation of the regulatory system.

Furthermore, earlier, the Deputy Secretary of the Financial Services and the Treasury Bureau of the Hong Kong SAR Government, Chan Ho Lam, stated at the "Finloop2025・Fintech Empowering Wealth Management" Annual Summit of the Hong Kong Wealth Management Industry that Hong Kong is rapidly developing in the virtual asset sector and has established an important position globally, with seven licensed virtual asset trading platforms currently operating in Hong Kong.