Binance CEO Calls Bitcoin Selloff Normal Amid Outflows

Binance CEO Richard Teng has described Bitcoin’s recent selloff as a normal reaction to tighter financial conditions and shifting market sentiment around artificial intelligence financing. According to CryptoNews, the remarks come as exchange data reveals considerably heavier selling on a major dollar-denominated trading platform compared to Binance.

Selling Pressure and ETF Outflows

Binance Research recorded 7,438 BTC in net aggressive selling on a dollar-based exchange between November 11 and 14, compared to 2,707 BTC on Binance. The difference left the unnamed dollar venue with approximately 2.75 times more net selling than Binance. Concurrently, US spot Bitcoin ETFs recorded approximately $1.91 billion in withdrawals across seven consecutive trading sessions between November 5 and November 13, according to Farside Investors data.

The broader market decline saw Bitcoin fall 15.6% over an 11-day period, dipping to $62,081 during Sunday's session before trading near $65,300. The downturn also triggered approximately $1.96 billion in cryptocurrency liquidations over 24 hours, with Bitcoin accounting for nearly $750 million, of which roughly $600.5 million involved long positions.

Market Outlook and Monitoring

Despite the losses, Teng maintained that the long-term case for Bitcoin and crypto remains intact, citing ongoing development of institutional infrastructure. Binance co-founder Yi He shared a similar view, describing market volatility as part of a maturing market. Researchers are also monitoring developments around AI financing, pointing to Nvidia’s upcoming earnings report as a key indicator for macro liquidity signals.

Key facts

• Binance CEO Richard Teng called the recent Bitcoin selloff a normal reaction to tightening macro conditions.
• US spot Bitcoin ETFs experienced $1.91 billion in withdrawals over seven consecutive trading sessions.
• Binance Research recorded 7,438 BTC in net aggressive selling on a dollar-based exchange versus 2,707 BTC on Binance.
• Bitcoin dropped 15.6% over 11 days, touching a low of $62,081 during Sunday's trading session.
• Cryptocurrency liquidations reached $1.96 billion over 24 hours, with Bitcoin longs accounting for $600.5 million.