Banks & Finance

The ETF trap? Binance Kazakhstan’s chief decodes Bitcoin’s February dip

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Binance Kazakhstan’s chief on Bitcoin’s latest price shock / Photo: Shutterstock, photo editor: Serikzhan Kovlanbayev

The February decline in cryptocurrency prices should not alarm investors, as volatility remains a natural part of market cycles. Despite current fluctuations, the long-term performance of the world’s leading cryptocurrency remains striking: over the past six years, Bitcoin’s price has risen nearly sevenfold, according to Nurkhat Kushimov, head of Binance Kazakhstan.

Bitcoin vs. the S&P 500

Kushimov said historical data provides important context. Bitcoin traded at roughly $9,600 on Feb. 6, 2020. By Feb. 6, 2026, its price had climbed to about $65,000. Over the same period, the S&P 500 index only doubled.

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According to the exchange executive, this comparison underscores the distinctive return potential of digital assets despite their higher volatility.

Institutional confidence remains strong

Despite the recent price correction, professional market participants have largely remained calm:

  • Spot Bitcoin exchange-traded funds in the U.S. hold about 1.27 million bitcoins, only slightly below peak levels.
  • Public companies continue accumulating the asset. In January 2026 alone, they purchased more than 43,000 bitcoins, bringing total corporate reserves to more than 1.1 million.
  • Stablecoins provide a significant liquidity cushion. Their combined market value has exceeded $306 billion — roughly double 2024 levels and close to historic highs.

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