Binance CEO Claims Bitcoin’s 35% Drop is Normal Market Correction

Binance CEO Richard Teng suggests that Bitcoin’s recent 35% decline is a natural part of market correction, similar to what occurs across various other asset classes. He highlights that despite this drop from its October peak of $126,000 to around $82,000, Bitcoin remains more than double its price from last year, indicating healthy profit-taking after a substantial surge. Teng believes the market is going through a normal consolidation phase, not a catastrophic crypto event.