CEO of Binance: the drop in crypto is a “tactical retreat,” not a reversal

Richard Teng, CEO di Binance, recently stated that the current decline in the crypto market represents a “tactical retreat” rather than a trend reversal.

 The sector, according to Teng, has already demonstrated in the past the ability to recover after significant geopolitical events, and this phase is no exception.

Bitcoin falls below $90,000: the statements of the CEO of Binance on the bull and bear crypto world

The statements by Teng come as the price of Bitcoin has fallen below $90,000 for the first time since November, reaching $87,000. The drop occurred following the announcement by United States President Donald Trump regarding the imposition of new trade tariffs on Canada and Mexico, a decision that has triggered uncertainty in the global financial markets.

According to James Toledano, COO of Unity Wallet, many analysts believed that Trump’s victory would lead to a new bull phase for Bitcoin. However, he noted that factors such as tariff wars, tensions in Eastern Europe, and uncertainties related to DeepSeek in the U.S. technology sector may have influenced the market differently than expected. “It might just be a temporary pricing error,” he added.

Through a series of posts on X (formerly Twitter), Teng emphasized that price movements often obscure the underlying dynamics of the sector. According to the CEO of Binance, crypto reacts to macroeconomic shocks in a manner similar to traditional assets but shows greater resilience in the long term. “What we are witnessing now is another short-term tactical retreat, away from a structural decline,” he stated.

His words reflect an optimistic view of the market, which continues to evolve despite short-term volatility. Teng reiterated that the fundamental growth indicators of crypto remain intact and that the sector is destined to strengthen over time.

Crypto ETF on the rise: a positive signal for the sector

Another key element that demonstrates the solidity of the crypto sector is the increase in requests for exchange-traded funds (ETF). 

Teng highlighted that the growing number of crypto ETFs is a positive signal for the market, as it indicates a growing institutional interest and a greater acceptance of crypto as legitimate assets.

At the beginning of this month, the Chicago Board Options Exchange (Cboe) submitted four applications for the launch of spot XRP ETFs, while the Securities and Exchange Commission (SEC) recently acknowledged Grayscale’s 19b-4 applications to list spot ETFs for Dogecoin and XRP. 

Furthermore, Grayscale has put forward a proposal for a Polkadot ETF, further strengthening the trend towards the recognition of digital assets in the traditional financial landscape.

In October, Bitwise filed an S-1 form with the SEC for an XRP ETF, and Canary Capital did the same last year. This demonstrates how interest in crypto ETFs is constantly growing, indicating that the market continues to mature despite price fluctuations.

Conclusion

Despite the recent drop in prices, the crypto market is not experiencing a reversal, but a simple tactical retreat, according to Binance CEO, Richard Teng. 

The reaction to Trump’s trade tariffs and other macroeconomic factors might be only temporary, and the sector has already demonstrated its ability to recover in the past. Furthermore, the increase in requests for crypto ETFs indicates that institutional interest is stronger than ever, helping to strengthen the market’s foundations for the future.