teng

Bitcoin $BTC recently experienced a sharp pullback, with losses of around 21% in November and more than 23% over the past three months. In response, Binance CEO Richard Teng remarked that the volatility seen isn’t unique to crypto — it mirrors broader trends in major asset classes.
Teng highlighted that the recent downturn is being driven by investor deleveraging and risk‑off sentiment. “What you are seeing is not only happening in cryptocurrency prices,” he said, pointing to similar dynamics across equities, commodities, and other markets. He also reassured the market that despite the pullback, Bitcoin is still trading at more than double its 2024 levels.
What This Means for the Market
The steep drop suggests short‑term weakness, but Teng described the phase as “healthy consolidation,” not alarm.
Bitcoin’s behavior is aligning with risk‑assets, meaning its current moves may be heavily influenced by macro conditions rather than crypto‑specific issues.
Key support zones around $80,000‑$90,000 are under pressure; if breached, the next leg of consolidation or correction could follow.
For bulls, this consolidation could be an opportunity: if leverage is cleared and the market shifts back to accumulation, the path to the next breakout remains viable.
Trader Takeaway
While the current trend leans toward cautious‑to‑bearish, the environment is setting up potential for a rebound — so long as Bitcoin can defend support and traders monitor macro triggers (like rate cuts or risk sentiment shifts). According to Teng, the fact that crypto is behaving like a mainstream asset may signal increasing maturity in the space.
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$BTC

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