Hong Kong Defends Currency Peg Amidst Market Turmoil, Bitcoin Surges Above $97K

The Hong Kong Monetary Authority (HKMA) intervened with a significant $9.4 billion injection into the currency market to stabilize the HKD peg against the US dollar. This action follows sharp volatility in regional markets, triggering concerns across various currencies and financial markets. Meanwhile, Bitcoin witnessed a surge of 3%, reaching $97,000, as traders reacted favorably to easing risk conditions and improved sentiment.