Binance -CEO: We see a tactical withdrawal with crypto no reversal
Binance -CEO: We see a tactical withdrawal with crypto no reversal
- Richard Teng indicated that the cryptom market will rather jump back after major geopolitical events
- Tengs comments come when Bitcoin has dropped under 90,000 US dollars at the beginning of this week according to the news of US President Donald Trump's trade tariffs in Canada and Mexico
What we see with the crypto market prices is a "tactual retreat, no reversal", says Binances CEO.
In a series of articles on x richard teng said that cryptoma hardness usually jump back.
"History has shown that cryptoma markets react to macroeconomic changes, similar to traditional assets, but they also jump back with remarkable resistance," he said and added: "What we are experiencing is another short -term tactical withdrawal, far from a structural decline."
The story has shown that cryptoma markets react to macroeconomic shifts, similar to traditional assets, but they also jump back with remarkable resistance.
Do you remember 2022? #Bitcoin Short under 20,000 US dollars during the FED -RATES -WARDEN stabilized. 📈
- Richard Teng (@Chardteng) 25. February 2025
Bitcoin falls on 87,000 US dollars
for the first time since NovemberTengs Post comes when Bitcoin fell below 90,000 US dollars at the beginning of this week after US President Donald Trump confirmed the trade tariffs in Canada and Mexico.
James Toledano, COO at Unity Wallet, said many believed that Bitcoin's price would continue to rise as soon as Trump entered the White House, adding:
"But the reality is that the price has gone south, probably due to collective bargaining wars, fragile peace discussions in Eastern Europe and fears about deepseek effects on the US technology sector. This could also be just a current price loss."
teng continued X and said: "Prounded movements often overshadow what happens under the surface, but the core drivers of the growth of crypto remain intact."
Krypto -Tf submissions on the advance
According to Teng, the increasing number of crypto exchange funds (ETFs) is a good sign of the market.
he added that market cycles come and go, but the basic indicators for the strength of crypto are getting stronger.
At the beginning of this month, the Chicago Board Options Exchange (CBOE) submitted four separate submissions on behalf of the issuers to start Spot XRP ETFs.
Last week, the US Securities and Exchange Commission (SEC) confirmed 19B-4 registrations from Grayscale to list Spot Dogecoin and XRP ETFs. Grayscale has recently applied for a Polkadot -ETF, which has been submitted to the latest crypto -ETF application in recent months.In October, an S-1 form with the SEC for an XRP ETF submitted bites. Similarly, Canary Capital applied for an XRP -TF last year that reflects his broader strategy to launch several crypto etts.
Source: Coinlist.me