PANews reported on November 1st that, according to a Hong Kong Stock Exchange announcement, Hengyue Holdings, a Hong Kong-listed company, disclosed that it has used its available cash reserves to purchase 6.12 BTC for HK$5.242 million. To date, the company has purchased a total of 35.6 Bitcoins through the open market, valued at approximately HK$25.428 million. Furthermore, Hengyue Holdings also announced plans to launch a "prepaid Bitcoin card" leveraging its expertise in the digital asset field and expand to other Asian markets.


Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more