Binance CEO says Bitcoin volatility matches broader markets amid 35% decline

Binance CEO Richard Teng recently commented on Bitcoin's current volatility, asserting that it is reflective of broader market trends rather than an anomaly within the crypto space. Speaking at a media roundtable, Teng noted that all asset classes experience cycles of volatility, highlighting that the recent downturn in Bitcoin prices is largely driven by investors seeking to deleverage amid risk aversion. Currently, Bitcoin is trading above $82,000, marking a 35% drop from its all-time high of over $126,000 set in early October. Despite this decline, Teng emphasized that Bitcoin's value remains significantly higher compared to 2024 prices. He suggested that such price corrections can be a healthy aspect of market behavior, allowing the sector to consolidate and stabilize. Contradicting the common perception of Bitcoin's volatility, Teng also indicated that it now aligns more closely with other major asset classes. As volatility within traditional markets has sometimes exceeded that of Bitcoin, some data suggest that Bitcoin's historically high volatility is decreasing as it gains acceptance and liquidity in the market.

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