Binance CEO: "Bitcoin Drop is Just a Short-term Correction"

Despite Bitcoin (BTC) falling below $85,000 for the first time in three months, a forecast suggests that the long-term growth potential of the cryptocurrency market remains solid.

According to Crypto Intelligence on the 26th (local time), Binance CEO Richard Teng stated in a recent interview that "this correction is just a short-term strategic retreat" and "the market's fundamental upward trend remains unchanged."

Bitcoin showed a sharp decline on the 25th when U.S. President Donald Trump reaffirmed his plan to impose 25% tariffs on Canada and Mexico. The Fear and Greed Index, which reflects market anxiety, entered the 'Extreme Fear' zone with a reading of 21 as of today. Nansen's 'Risk Barometer' also shifted from 'Neutral,' which had been maintained since mid-November last year, to 'Risk Aversion.'

Regarding this, CEO Teng emphasized that "this correction is merely short-term volatility due to the macroeconomic environment" and "the fundamental indicators of the cryptocurrency market are getting stronger." He further predicted that "institutional demand for cryptocurrency investment is expanding following the approval of Bitcoin spot ETFs" and "additional ETF launches will have a positive impact on the market."

Indeed, spot ETF applications are continuing for XRP, Cardano (ADA), Solana (SOL), and Dogecoin (DOGE). This follows heightened expectations for altcoin ETF approvals since the resignation of former SEC Chairman Gary Gensler on January 20th.

CEO Teng advised that "despite current volatility, the long-term growth of the cryptocurrency market will continue" and "investors need to focus on industry fundamentals rather than short-term price movements."