Binance CEO: The current market adjustment is a tactical correction rather than a trend reversal

Odaily Planet Daily News Binance CEO Richard Teng wrote that recent market volatility should be viewed as a "tactical pullback" rather than a structural recession in the crypto market. He emphasized that the crypto market has experienced macroeconomic shocks and rebounded strongly many times in history. For example, Bitcoin briefly fell below $20,000 in 2022 due to the Fed's interest rate hike, but quickly recovered as the market stabilized. Teng pointed out that institutional investor interest is still rising, ETF funds continue to flow in, and Binance is also growing steadily. He believes that the Fed's suspension of interest rate cuts is a key factor in the recent market adjustment. Although the possibility of a rate cut in March has decreased, future policies will still depend on inflation and employment data. He said that market pullbacks are often an opportunity for senior investors to lay out the next rising cycle. The crypto market has become part of the global financial system and has proven its resilience in dealing with macroeconomic fluctuations.