Bitcoin
(BTC) tumbled 18% in February, its steepest monthly drop since early 2022. Yet
despite the price slump, market activity remained anything but calm. This
volatility created a trading boom for institutional platform Finery Markets,
which processed a record $1.8 billion in client transactions last month—a 135%
surge from February 2024.
The
contrasting metrics highlight how institutional trading volumes can thrive even
when cryptocurrency prices struggle.
Institutional Crypto
Trading Surges as Finery Markets Reports Record $1.8B Volume
Finery
Markets is specializing in non-custodial cryptocurrency electronic
communication networks (ECN) and SaaS trading solutions for institutions. And
it has reported all-time high trading volumes in the opening months of 2025,
highlighting accelerating institutional engagement with digital asset markets.
This record
$1.8 billion performance follows January’s strong showing of $1.6
billion in client trades, positioning the firm for a really strong first
quarter. And
this is a quarter in which BTC has so far lost 12% of its value, entering
the new year with a significant hangover despite January’s all-time highs.
“The
performance signals that we’re right on track to prove our main belief: that
the institutionalization of crypto is inevitable,” said Konstantin Shulga,
CEO of Finery Markets. “Market
participants are increasingly seeking reliable technology and trading
infrastructure to gain exposure to the crypto industry.”
The data
reveals particularly strong growth in stablecoin transactions, which surged
152% year-over-year in February alone. This trend suggests stablecoins are
increasingly serving as a critical bridge between traditional financial systems
and digital asset markets.
The 2024
results are certainly fueling positive forecasts, as
OTC trading volume has increased by over 100% in recent months.
Recently,
the company also announced a partnership with Sage Capital Management, which
will become the company’s liquidity provider using the quite new trading
method, including quote streams via the FIX protocol.
Why Is Bitcoin Going Down?
And as
mentioned, record-high volumes are occurring against the backdrop of
significant Bitcoin declines. BTC price has fallen sharply in February and
March 2025, dropping from a peak of $109,000 in January to around $77,000 this
week, as a mix of economic uncertainty and crypto-specific pressures weigh on
the market.
Analysts
point to global trade tensions, sparked
by US President Donald Trump’s imposition of tariffs on Canada, Mexico, and
China, as a key driver, fueling fears of inflation and prompting investors to
pull back from riskier assets like cryptocurrencies. The broader crypto market
has shed nearly half a trillion dollars in value since early February, according
to CoinGecko data.
Adding to
the downturn, disappointment over Trump’s
Strategic Bitcoin Reserve plan—initially hyped as a potential boost for
Bitcoin—has soured sentiment. The reserve, unveiled in early March, will use
existing government-seized Bitcoin rather than new purchases, dashing hopes of
fresh capital inflows.
Meanwhile, US-listed
Bitcoin exchange-traded funds (ETFs) have seen outflows exceeding $3 billion in
February alone, reflecting waning investor confidence. A
$1.5 billion hack at the Bybit exchange last month has also rattled nerves,
amplifying volatility in an already fragile market.
Ethereum,
the second-largest cryptocurrency, has fallen over 50% since the January high to
$1,900, hitting its lowest level since 14 months.
Will Bitcoin Fall to $70,000?
Experts Say: YES
Although
Bitcoin’s price is
currently holding above the $80,000 level, which appears to act as
psychological support, it remains below the 200-day EMA, suggesting that bears
have the upper hand. Furthermore, the 50-day EMA is about to cross below the
200-day EMA, forming a long-term sell signal known as a death cross.
Given this
setup, analysts and investors are speculating how low Bitcoin might drop. The
latest predictions suggest that BTC’s price could fall to $70,000, around its
November lows. This view is shared and frequently reiterated by Arthur Hayes,
the founder and former CEO of the cryptocurrency exchange BitMex.
Earlier
this month, he
suggested that the first support level was around $75,000. This week,
however, he stated that Bitcoin’s price would bottom out around $70,000 before
starting a new rally.
“Be
f***ing patient. BTC likely bottoms around $70k. 36% correction from $110k ATH,
very normal for a bull market,” Hayes commented bluntly.
This article was written by Damian Chmiel at www.financemagnates.com.
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