Bitcoin News Today: Binance CEO Dismisses Bitcoin's 35% Plunge as 'Normal' Amid Volatility Debate

Binance CEO Richard Teng has downplayed concerns over Bitcoin's recent 35% decline, stating the cryptocurrency's volatility is in line with broader financial markets. Speaking at a media roundtable in Sydney, Teng attributed the selloff to "deleveraging and risk aversion" trends observed across asset classes, noting that Bitcoin's performance "is not only happening to crypto prices" according to data. At the time of reporting, Bitcoin traded just above $82,000, nearly 35% below its October 6 all-time high of $126,000. The total crypto market cap has also dropped 33.6% to $2.84 trillion from its $4.28 trillion peak.

The recent downturn has been exacerbated by outflows from major U.S. spot ETFs. Between November 10 and 14, 2025, crypto ETFs recorded $1.32 billion in net outflows, with BlackRock's IBIT and Fidelity's ETHA leading the exodus. BlackRock's IBIT alone saw $532.4 million withdrawn, while Fidelity's ETHA lost $421.4 million in Ethereum holdings according to analysis. Analysts suggest these withdrawals reflect investors scaling back positions after entering during October's rally, rather than panic selling. Institutional flows, typically tied to price momentum, remain muted as Bitcoin and Ethereum hover in a consolidation phase according to market data.

Teng's assertion that Bitcoin's volatility aligns with traditional markets contrasts with historical data showing crypto's extreme price swings. While Bitcoin's annualized volatility has declined to over 50% from 181% in 2013, it still outpaces most equities. Tech stocks like Tesla and AMD exhibit volatilities of 65% and 73%, respectively, but these are considered outliers in traditional finance according to financial reports. Meanwhile, the S&P 500's annualized volatility has dipped to just over 15%, briefly surpassing Bitcoin's during recent market turbulence.

The selloff has also exposed fragility in crypto liquidity. Tom Lee, chairman of Ethereum treasury firm BitMine, warned that the October 10 liquidation event-which erased $19 billion in leveraged positions-may have burned deep holes in market makers' balance sheets, exacerbating downward pressure. Ray Dalio's recent comments on quantum computing potentially cracking Bitcoin's encryption within 10–15 years further stoked fears, triggering additional liquidations according to market analysis. Retail sentiment on platforms like Stocktwits remains bearish, with traders describing the decline as "unnatural" and "unlike past bear markets" according to trader reports.

Bitcoin's performance has also drawn comparisons to the 2022 crypto crash. The asset is on track for its worst monthly decline since the collapse of TerraUSD and FTX, shedding 23% in November alone. Despite institutional adoption and a pro-crypto U.S. administration, prices have fallen over 30% from their October peak. Open interest in perpetual futures has dropped 35% from its $94 billion high, reflecting reduced speculative activity.

Teng, however, remains optimistic about the sector's long-term trajectory. He highlighted that Bitcoin has more than doubled since 2024, calling consolidation "healthy" for the industry to "find its feet." While volatility remains a challenge, Teng's comments underscore a growing narrative that crypto is maturing alongside traditional markets according to market analysis.