- Richard Teng indicated that the crypto market tends to bounce again after main geopolitical occasions
- Teng’s remarks come as Bitcoin dropped under $90,000 earlier this week following the information of US President Donald Trump’s commerce tariffs on Canada and Mexico
What we’re seeing with crypto market costs is a “tactual retreat, not a reversal,” in response to Binance’s CEO.
In a collection of posts on X, Richard Teng stated crypto markets usually bounce again after main occasions.
“Historical past has proven that crypto markets react to macroeconomic shifts very like conventional property, however in addition they bounce again with exceptional resilience,” he stated, including “what we’re witnessing now could be one other short-term tactical retreat, removed from a structural decline.”
Historical past has proven that crypto markets react to macroeconomic shifts very like conventional property, however in addition they bounce again with exceptional resilience.
Bear in mind 2022? #Bitcoin briefly dipped under $20,000 throughout Fed fee hikes, solely to get well as situations stabilized. 📈
— Richard Teng (@_RichardTeng) February 25, 2025
Bitcoin drops to $87,000 for the primary time since November
Teng’s submit comes as Bitcoin dropped below $90,000 earlier this week following the information that US President Donald Trump had confirmed commerce tariffs on Canada and Mexico.
Talking to CoinJournal, James Toledano, COO at Unity Pockets, stated many believed that Bitcoin’s worth would proceed rising as soon as Trump entered the White Home, including:
“However the actuality is that the worth has gone south, probably resulting from tariff commerce wars, fragile peace talks in Japanese Europe, and fears round DeepSeek’s impression on the US tech sector. However this might additionally simply be a momentary lapse of pricing motive.”
Persevering with on X, Teng stated: “Worth actions usually overshadow what’s taking place beneath the floor, however the core drivers of crypto’s progress stay firmly intact.”
Crypto ETF filings on the rise
In response to Teng, the rising variety of crypto exchange-traded funds (ETFs) is an efficient signal for the market.
He added that market cycles come and go, however the elementary indicators of crypto’s power are getting stronger.
Earlier this month, the Chicago Board Choices Trade (Cboe) filed four separate filings on behalf of issuers to launch spot XRP ETFs.
Final week, the US Securities and Trade Fee (SEC) acknowledged 19b-4 filings from Grayscale to list spot Dogecoin and XRP ETFs. Extra lately, Grayscale filed for a Polkadot ETF, making it the most recent crypto ETF utility submitted previously few months.
In October, Bitwise filed an S-1 form with the SEC for an XRP ETF. Equally, Canary Capital filed for an XRP ETF last year, reflecting its broader technique of bringing a number of crypto ETFs to the market.