Hong Kong Defends Currency Peg, Bitcoin Pumps Back to $97K

By: bitcoin ethereum news|2025/05/08 08:45:02
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Hong Kong Monetary Authority intervenes with $9.4 billion to defend the HKD peg to the U.S. dollar. Bitcoin rises 3%, reaching $97K, as risk conditions ease and sentiment improves. New Hampshire creates the first state-level Bitcoin reserve, allowing up to 5% of public funds in crypto. Tuesday, the Hong Kong Monetary Authority (HKMA) intervened in the foreign exchange market, selling HKD 73.3 billion (approximately $9.4 billion) to defend the Hong Kong dollar’s peg to the U.S. dollar. This move came after sharp volatility in regional markets, triggering reactions across currencies and money markets. Bitcoin surged by 3% as traders responded to easing risk conditions. Additionally, a new state-level crypto policy in New Hampshire further boosted sentiment. HKMA Intervenes as HKD Hits Band Limit On Tuesday, the Hong Kong dollar spiked to the strong end of its trading band, nearing the 7.75 floor of its peg to the U.S. dollar. In response, the HKMA conducted two foreign exchange operations, selling HKD 73.3 billion to maintain the peg. Related: India-Pakistan Clashes Spark Fears of Crypto Market Volatility – Is a Bitcoin Crash Looming? According to QCP Broadcast, the intervention had an immediate impact on money markets. The one-month Hong Kong Interbank Offered Rate (HIBOR) plunged nearly 60 basis points in a single session. This sharp move forced hedge funds to unwind heavily crowded USD/HKD carry trades. QCP also noted that further strengthening of the Hong Kong dollar could trigger another leg down in HIBOR, increasing the risk of a more disorderly exit from these trades. FX Moves Ignite Speculation of U.S.-China Talks The broader FX market responded quickly to the HKMA’s move, with traders speculating that it may signal easing tensions between the United States and China. Reports suggested that discreet trade negotiations could be underway in Switzerland. Risk appetite improved across Asian markets during early trading hours. Bitcoin rose over 3% to reach $97,000, recovering weekend losses. As of this press time, Bitcoin trades at $96,977, a 3% rise in the past day, extending its monthly gain to 27%. New Hampshire Approves State Crypto Reserve Meanwhile, Bitcoin’s gains were also supported by policy development in the United States. New Hampshire Governor Kelly Ayotte signed legislation creating the first U.S. state-level Bitcoin reserve. Related: May 2025 Still Bitcoin Season With Altcoin Index Failing to Flip The law allows up to 5% of the state’s public funds to be allocated to cryptocurrency and precious metals. For now, Bitcoin is the only eligible digital asset, as it meets the law’s market capitalization requirement of over $500 billion. Governor Ayotte described the move as “First in the Nation,” positioning New Hampshire as a frontrunner in state-level crypto adoption. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company. Source: https://coinedition.com/hong-kong-defends-currency-peg-bitcoin-pumps-back-to-97k-us-china-trade-talks/

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LALIGA Match Report: Vinícius scores as 10-man Real Madrid secure a 3-2 comeback victory in Madrid derby

In the early hours of March 23, 2026, Round 29 of LALIGA delivered a headline clash at the Santiago Bernabéu. Real Madrid hosted their local rivals, Atlético de Madrid, in a high-stakes encounter. Under referee José Munuera, the match unfolded at a fierce pace, packed with physical duels and momentum swings. After a five-goal thriller, Real Madrid held firm for a 3–2 home win, taking all three points. They remain second on 69 points, now four behind leaders Barcelona.

From a numbers standpoint, Real Madrid stayed composed under pressure, completing 526 passes with a 52.4% share of possession. Atlético struck first in the 33rd minute through Lookman. After the break, Real Madrid flipped the game: Vinícius converted a penalty to level, then Valverde fired them ahead. Molina pulled Atlético back on level terms, but Vinícius stepped up again in the 72nd minute to seal the win. Late drama followed as Valverde saw red, forcing Real Madrid to defend deep with ten men through the final stretch. Atlético's aggressive approach—12 fouls and 4 yellow cards—kept the pressure on, but they couldn’t stop the comeback.

WEEX Insights: As the official LALIGA partner in the Hong Kong and Taiwan regions, WEEX sees this win as a masterclass in control under pressure. Even after a red card and constant attacks, Real Madrid stayed sharp and executed with precision. That same discipline—staying calm in volatile moments and acting with clarity—reflects the core trading mindset WEEX stands for. LALIGA fan campaigns are coming soon—celebrate the game with WEEX.

About WEEX

Founded in 2018, WEEX has developed into a global crypto exchange with over 6.2 million users across more than 150 countries. The platform emphasizes security, liquidity, and usability, providing over 1,200 spot trading pairs and offering up to 400x leverage in crypto futures trading. In addition to the traditional spot and derivatives markets, WEEX is expanding rapidly in the AI era — delivering real-time AI news, empowering users with AI trading tools, and exploring innovative trade-to-earn models that make intelligent trading more accessible to everyone. Its 1,000 BTC Protection Fund further strengthens asset safety and transparency, while features such as copy trading and advanced trading tools allow users to follow professional traders and experience a more efficient, intelligent trading journey.

Follow WEEX on social media

X: @WEEX_Official 

Instagram: @WEEX Exchange

 Tiktok: @weex_global 

Youtube: @WEEX_Official 

Discord: WEEX Community 

Telegram: WeexGlobalGroup

LALIGA Match Report: Araujo seals 1–0 win as Barça tighten grip on top spot

In the early hours of March 22 (Beijing Time), Barça edged Rayo Vallecano 1–0 at Camp Nou in a key Round 29 clash. The hard-earned win lifts Barça to 73 points, strengthening their hold on first place.

Barça controlled the game with 61% possession and a sharp 89% passing accuracy (460 passes). Rayo pushed back with intensity, earning 9 corners, but Barça's defense stayed solid. Yellow cards for Raphinha, Yamal, and Cubarsí highlighted the physical edge of the match. Second-half subs like Rashford and Olmo added fresh energy to help see out the result. Rayo remain 14th on 32 points.

WEEX Insights: As the Official LALIGA Partner in HK & TW, WEEX sees Barça’s 89% passing accuracy as a clear example of high execution with minimal error. Staying precise under pressure and finding the breakthrough reflects the same disciplined approach used in rational trading.

LALIGA interactive campaigns are coming soon—stay tuned with WEEX ⚽️

About WEEX

Founded in 2018, WEEX has developed into a global crypto exchange with over 6.2 million users across more than 150 countries. The platform emphasizes security, liquidity, and usability, providing over 1,200 spot trading pairs and offering up to 400x leverage in crypto futures trading. In addition to the traditional spot and derivatives markets, WEEX is expanding rapidly in the AI era — delivering real-time AI news, empowering users with AI trading tools, and exploring innovative trade-to-earn models that make intelligent trading more accessible to everyone. Its 1,000 BTC Protection Fund further strengthens asset safety and transparency, while features such as copy trading and advanced trading tools allow users to follow professional traders and experience a more efficient, intelligent trading journey.

Follow WEEX on social media

X: @WEEX_Official

 Instagram: @WEEX Exchange 

Tiktok: @weex_global 

Youtube: @WEEX_Official 

Discord: WEEX Community 

Telegram: WeexGlobalGroup

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