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- Richard Teng indicated that the crypto market tends to bounce again after main geopolitical occasions
- Teng’s remarks come as Bitcoin dropped beneath $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 keeping with Binance’s CEO.
In a sequence of posts on X, Richard Teng stated crypto markets usually bounce again after main occasions.
“History has shown that crypto markets react to macroeconomic shifts much like traditional assets, but they also bounce back with remarkable resilience,” he stated, including “what we are witnessing now is another short-term tactical retreat, far from a structural decline.”
History has proven that crypto markets react to macroeconomic shifts very like conventional property, however additionally they bounce again with exceptional resilience.
Remember 2022? #Bitcoin briefly dipped beneath $20,000 throughout Fed price hikes, solely to get well as circumstances stabilized. 📈
— Richard Teng (@_RichardTeng) February 25, 2025
Bitcoin drops to $87,000 for the primary time since November
Teng’s put up 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.
Speaking to CoinJournal, James Toledano, COO at Unity Wallet, stated many believed that Bitcoin’s value would proceed rising as soon as Trump entered the White House, including:
“But the reality is that the price has gone south, likely due to tariff trade wars, fragile peace talks in Eastern Europe, and fears around DeepSeek’s impact on the US tech sector. But this could also just be a momentary lapse of pricing reason.”
Continuing on X, Teng stated: “Price movements often overshadow what’s happening beneath the surface, but the core drivers of crypto’s growth remain firmly intact.”
Crypto ETF filings on the rise
According to Teng, the rising variety of crypto exchange-traded funds (ETFs) is a good signal for the market.
He added that market cycles come and go, however the elementary indicators of crypto’s energy are getting stronger.
Earlier this month, the Chicago Board Options Exchange (Cboe) filed four separate filings on behalf of issuers to launch spot XRP ETFs.
Last week, the US Securities and Exchange Commission (SEC) acknowledged 19b-4 filings from Grayscale to list spot Dogecoin and XRP ETFs. More just lately, Grayscale filed for a Polkadot ETF, making it the newest crypto ETF software submitted up to now few months.
In October, Bitwise filed an S-1 form with the SEC for an XRP ETF. Similarly, Canary Capital filed for an XRP ETF last year, reflecting its broader technique of bringing a number of crypto ETFs to the market.