Market Recovery
Bitcoin rebounds above $106,000 after crypto selloff
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Bitcoin surged 4% to $106,087.54 as the global cryptocurrency market recovered, with its total capitalization rising to $3.57 trillion. The rebound follows a sharp selloff that liquidated nearly $20 billion in leveraged positions and erased half a trillion dollars from the market over a weekend. Experts view the event as a necessary correction exposing structural flaws while highlighting improved infrastructure resilience.
The One Park Place development in Yau Tong has attracted strong demand, with 110 units sold soon after launch following discounts of up to 15 percent from developers Sino Land, CSI Properties, and MTR. This occurs amid expectations of interest rate cuts and rising demand, signaling hopes for market recovery in 2026. The sale, originally set for November 28, was postponed due to a deadly fire in Tai Po's Wang Fuk Court.
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The cryptocurrency market is experiencing a gradual recovery following last week's sharp downturn, with Bitcoin trading above $91,000 and Ethereum over $3,000. A Bybit report, in collaboration with Block Scholes, highlights stabilizing derivatives contracts amid improved global risk appetite and positive macroeconomic signals. Traders remain cautious, as shown by subdued participation in altcoin derivatives.