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The crypto market just took another hit. Almost $1 billion in leveraged positions were wiped out. Bitcoin (BTC) slid from its local high of $109,000 down to $77,000 - a brutal 28% drop in just a month.
Now, at its lowest in three months, the sentiment points to extreme fear, with uncertainty, liquidations and panic. Of course, all eyes are focused on one man: Changpeng Zhao.
Godfrey BenjaminCZ, the former Binance CEO and one of the most influential figures in crypto, was asked about the situation on X. His response? Dips are normal in free markets. If the volatility is too much to handle, it might be time to reconsider investment decisions.
Gamza KhanzadaevBut for him, this is not just about financial gain; crypto represents a fundamental shift in worldview, a transition he made over a decade ago when he walked away from traditional finance.
His words are not a market prediction or a call to panic, nor reassurance of an imminent rebound. Instead, they were a reminder that crypto is volatile by nature, and those who participate need to understand the risks.
"Just another day on the strip"
Zhao, having witnessed the industry's highs and lows firsthand, even serving a jail sentence, is not experiencing FOMO or falling into FUD. To him, this is just another cycle.
Interestingly, in his first AMA conference after his release from prison, Zhao hinted that 2025 may be what 2021 was to 2020 - a bull rally after a recovery year. He did not say that directly, but 2024, in his view, was a recovery period after two years of bear market triggered by the FTX collapse.
Yuri MolchanAs always, every downturn stirs up the same questions: Is this a temporary correction or the start of a prolonged bear market? Will Bitcoin bounce back? While traders debate the future, CZ’s perspective stands firm.
Dan Burgin
Vladislav Sopov