- 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 line with Binance’s CEO.
In a collection of posts on X, Richard Teng mentioned crypto markets sometimes 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 mentioned, including “what we are witnessing now is another short-term tactical retreat, far from a structural decline.”
Historical past has proven that crypto markets react to macroeconomic shifts very similar to conventional belongings, however additionally they bounce again with outstanding resilience.
Keep in mind 2022? #Bitcoin briefly dipped under $20,000 throughout Fed price 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 put up comes as Bitcoin dropped under $90,000 earlier this week following the information that US President Donald Trump had confirmed commerce tariffs on Canada and Mexico.
Chatting with CoinJournal, James Toledano, COO at Unity Pockets, mentioned many believed that Bitcoin’s price would proceed rising as soon as Trump entered the White Home, 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.”
Persevering with on X, Teng mentioned: “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
Based on 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 energy are getting stronger.
Earlier this month, the Chicago Board Choices Alternate (Cboe) filed 4 separate filings on behalf of issuers to launch spot XRP ETFs.
Final week, the US Securities and Alternate Fee (SEC) acknowledged 19b-4 filings from Grayscale to record spot Dogecoin and XRP ETFs. Extra not too long ago, 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 kind with the SEC for an XRP ETF. Equally, Canary Capital filed for an XRP ETF final 12 months, reflecting its broader technique of bringing a number of crypto ETFs to the market.