Institutional accumulation of bottom-fishing? New Fire Group's large transaction order volume surged 8 times that week.

ME News, June 8 (UTC+8): According to the latest data from Hong Kong-listed company Xinhuo Group (01611.HK), the group’s various business segments delivered strong performance last week. Its OTC business’ weekly trading volume surpassed an all-time high, rising by more than 8 times compared with the prior period. At the same time, the group’s overall asset management scale (AUM) continued to grow and set a new historical high as well. Against the backdrop of the recent overall weakness and choppy volatility in the broader crypto market, the group’s key business metrics turned stronger against the trend.

Analysts noted that since June 1, Bitcoin has retreated from its high-level range, once falling below the $60,000 threshold. Extreme market moves triggered a stampede by in-market funds and fierce deleveraging, and the panic index even dipped to single digits. However, these extreme conditions also sparked strong buying interest from institutional players. On-chain and trading data from major platforms show that large-scale “bottom-fishing” cases have been appearing frequently in recent times. Some institutional funds—featuring attributes associated with listed companies and “ancient whale” labels—have chosen to concentrate their bottom-fishing and actively enter the market within the key price range around $60,000.

In addition to external market windows, Xinhuo Group has recently carried out a comprehensive upgrade of its OTC trading system. This has positioned it as a compliant large in-and-out deposit/withdrawal platform in Hong Kong that can simultaneously meet the efficiency and security requirements of high-net-worth clients and institutional funds. Moreover, Xinhuo Group operates the first compliant Bitcoin-based asset management service under Hong Kong’s License No. 9. During the period of market volatility, this service recorded double-digit annualized growth in Bitcoin-denominated returns, and has become the preferred asset management product for major players accumulating Bitcoin in the current period. (Source: Xinhuo Group)