Binance CEO analyzes the recent drop in digital currency market and predicts a rebound. Learn more about the reasons behind this decrease and the future outlook.
Richard Teng, the CEO of Binance, considers the 8% decrease in the total value of digital currencies market as a tactical retreat rather than a structural trend change. He mentioned on social media that historical data shows digital currency markets, like traditional financial assets, react to macroeconomic changes but have shown strong resilience over time. Teng attributed the recent decrease primarily to the Federal Reserve’s cautious approach to interest rate cuts and emphasized that this situation is temporary. He also pointed out that institutional investors’ interest is still growing, with a significant inflow into Exchange-Traded Funds (ETFs).
