Bitunix analyst: The development of crypto derivatives in Hong Kong has helped push Bitcoin prices up slowly

On February 20, Bitunix analysts stated that the Chief Executive Officer of the Hong Kong Securities and Futures Commission (SFC), Mr. Leung Ting-wai, announced at the Consensus Hong Kong 2025 conference that Hong Kong will introduce cryptocurrency derivatives and margin lending services for professional investors to consolidate its position as a digital asset hub. On the same day, the Financial Secretary, Mr. Chan Mo-po, revealed that Hong Kong has issued licenses to 9 digital asset trading platforms, with another 8 under review, and is accelerating the regulation of stablecoins. Affected by this news, the price of Bitcoin (BTC) rose to $97,142.8, an increase of about 0.56%, reaching a high of $97,339.8. Bitunix analysts stated that the short-term support for BTC can be observed at $91,520.6 and $93,793.8, and risk management should be in place.