Bitcoin (BTC) recently experienced a significant drop, but Binance CEO Richard Teng believes this is a temporary setback, not the beginning of a long-term market decline. Teng argues that past market cycles have shown similar downturns followed by rebounding trends, suggesting a bullish future for crypto. He points to the recent Bitcoin price movement as a tactical retreat driven by the liquidation of short positions and overall market turbulence. Binance has witnessed significant liquidations exceeding $334 million in the past 24 hours, contributing to these fluctuations. Teng highlights that this latest volatility does not signify a fundamental change in the cryptocurrency market’s trajectory and emphasizes that crypto assets have historically displayed resilience in the face of market corrections. This recent drop comes after Bitcoin broke through its all-time high before retracing. The market is currently transitioning from periods of increased liquidity driven by meme tokens to a more stable period with an influx of stablecoins.