What Does Former Binance CEO Think About the Bitcoin Price Near $100K Crash?

The Bitcoin price trajectory defines how the rest of the crypto market would react. Nearly a month ago, BTC jumped to an ATH of $111.9k, and at the same time, the entire market turned bullish. Similarly, as its price is crashing today amid the Israel-Iran conflict, the altcoins are tumbling, which concerns many. However, the former Binance CEO tweeted an optimistic note, asking investors to focus on the broader picture.

Bitcoin Price Tumbles Around $100K, Fueling Crypto Market Crash

The rise in the Israel-Iran conflict, especially as the US joined the war, saw the Bitcoin price bottom at $98.5k. This is the first time BTC has dropped to this low in months, generating extended fear among holders.

As the investors turn fearful of the ongoing geopolitical situation, the traditional assets are in demand, crashing the BTC, ETH, and others. The fear fueled today’s crypto market crash, wiping out 1.24% of the global market cap.

Additionally, $658M is lost in the liquidation, impacting 187,503 traders. More is at risk as the market currently lacks bullish catalysts. Even the altcoin season index has collapsed to the 2 year low, and the odds of a bull run in 2025 have faded.

Earlier this year, many experts predicted the BTC price would achieve a new ATH of around $150k by this time. However, the geopolitical tension and delayed interest rate change have shifted the trajectory.

Interestingly, experienced market investors and industry leaders like the ex-Binance CEO call it the silence before the storm.

Binance CEO Says Everything is a Dip Before ATH

The former Binance CEO, Chanpeng, Zhao, believes every drop is the dip before it eventually reaches its all-time high. However, this does not stand true for all cryptos, but a handful of them that have the demand and potential.

CZ says, rather than worry about the dip, the obvious question is, will there be a next ATH, before adding that” Only a small number of strong coins will do that. Look for long-term staying power and growth potential.”

Experts like SightBringer break down CZ’s claim and reason that Bitcoin is structurally wired for new ATHs, citing its scarcity and demand. Many acknowledge that every dip is a prelude to the new ATH, as the long-term Bitcoin price prediction is bullish regardless of the changed trajectory.

Talking of limited coins achieving this level reveals the volatility of the market. Moreover, it targets the utility-less token, which fails to survive the competition, changing trends, and volatility of the market. Investors must remain alert to the physical and technical events happening around crypto and trade strategically.