Richard Teng: The drop in Bitcoin prices is normal; the net selling volume on one platform is 2.75 times that of Binance.

Binance CEO Richard Teng stated that the recent decline in Bitcoin is a normal short-term pressure due to tightening macroeconomic conditions and a shift in sentiment regarding AI funding; the long-term logic remains intact. Binance co-founder He Yi said that volatility is part of the market maturation process. According to data from Binance Research, from November 11 to 14, a certain USD spot exchange had a net sale of 7,438 Bitcoins, while Binance had a net sale of 2,707 Bitcoins during the same period, a difference of 4,731 Bitcoins. The former's net sale volume was approximately 2.75 times that of Binance. Bitcoin is currently trading at approximately $65,300, down nearly 3% in the last 24 hours, having hit a low of $62,081 during Sunday's trading session. The U.S. spot Bitcoin ETF experienced net outflows of $1.91 billion over seven consecutive trading days from November 5th to 13th, including $1.065 billion in outflows from November 9th to 13th.