Binance CEO Says Bitcoin’s 35% Drop Is Just Normal Market Cooling
- Binance CEO says Bitcoin’s 35% crash is just normal deleveraging, same stuff happening everywhere.
- BTC still up 2x from last year, so this pullback is actually healthy profit taking.
- Crypto volatility isn’t fair anymore; Tesla and AMD are swinging harder than Bitcoin right now.
Binance boss Richard Teng says everyone needs to chill about Bitcoin’s big drop. Speaking in Sydney, he told reporters the 35% slide from October’s $126,000 peak to around $82,000 is just normal risk off deleveraging you see across all markets right now, not some crypto only meltdown.
Bitcoin’s one year price chart.
Teng pointed out Bitcoin is still more than double where it was last year, so a breather after such a run is healthy. “People took profits, markets consolidate, that’s how it works,” he said, adding the whole industry needs time to catch its breath and find solid ground again.
Not That Wild Anymore
He also pushed back on the old “Bitcoin is super volatile” story, saying its swings are pretty much in line with plenty of major assets these days. Sure, Bitcoin’s yearly volatility is still around 50%, but that’s actually way down from the 181% insanity back in 2013. Some big tech stocks like Tesla (65%), AMD (73%), and Super Micro (73%) are even jumpier right now.
The broader market’s been messy too—during the recent chaos, the S&P 500’s volatility actually shot past Bitcoin’s for a bit.
Teng’s bottom line: crypto isn’t the wild child anymore, it’s just riding the same waves as everything else. A little consolidation now could set the stage for the next leg up.
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