Binance founder Changpeng Zhao (CZ) reassured followers on Wednesday that Bitcoin’s price decline is temporary, urging calm in an early morning X post.
“No need to panic, bitcoin won’t die,” the former Binance CEO shared to social media on February 26. Not all investors shared Zhao’s confidence, as Bitcoin slipped below $85,000.
However, some social media users echoed Zhao’s optimism, seeing Bitcoin’s price drop as temporary. “Bitcoin dying? Bitcoin won’t even faint,” one X user said. “This is barely a nap.”
“Then can you please stop dumping sir,” one user replied to his post. “Time will tell,” wrote another.
Binance CEO Richard Teng, who replaced Zhao in November 2023 after his resignation due to legal challenges, weighed in on Bitcoin’s price decline. “What we are witnessing now is another short-term tactical retreat, far from a structural decline,” Teng said in a February 26 X post.
Zhao’s comments come amid a volatile week for Bitcoin, which has dropped more than 20% from its all-time high of $109,000 in January.
Teng pointed to institutional interest, recent ETF activity, and a growing Binance user base as reasons for optimism. “It’s true that market pullbacks can feel unsettling,” Teng added. “But they are also moments where seasoned investors position themselves for the next uptrend.”
“Price movements often overshadow what’s happening beneath the surface, but the core drivers of crypto’s growth remain firmly intact.”
Spot Bitcoin ETFs in the U.S. have struggled this past week, losing a cumulative total of over $2 billion in the last six days alone. Bitcoin’s ability to recover in the short term will likely depend on market sentiment, regulatory developments, and institutional investment trends.
Despite Teng’s optimism, US spot Bitcoin ETFs recorded their largest single-day outflow, shedding $938 million on February 25.
Every major Bitcoin bull run has included several sharp pullbacks, teaching veterans to distinguish between routine volatility and actual market breakdowns.
Bitcoin’s current 20% decline from its peak represents standard behavior for an asset that has historically moved in dramatic cycles.
Whether this pullback marks a healthy breather in an ongoing uptrend or signals something more significant will become apparent only with time and additional market data.
Either outcome will add another chapter to Bitcoin’s turbulent but historically upward journey—a pattern that has consistently rewarded patience over panic.
Figures like CZ and Teng have witnessed Bitcoin recover from previous crashes far worse than today’s movements, including multiple 80%+ drops that tested even the strongest believers.