Binance CEO Richard Teng said Bitcoin is "pretty close to that bottom" and that the market is set up for an uptick into the second half of the year, framing his call around the four-year cycle and the typical 360 to 380-day drawdown from peak.
Why it matters
The call lands from the head of the largest crypto exchange by volume, and it leans on a framework the industry watches closely: the four-year halving cycle. Teng cited current utility demand and the traditional 360 to 380-day window from all-time high to cycle bottom, noting the market is "close to 300 days now." That arithmetic is the spine of his bullish thesis: the worst of the drawdown is likely behind, and demand is set to outpace a tightening supply schedule.
Market impact
Teng also pointed to rotation, arguing that the first half of the year pulled flows into AI and semiconductor equities and that some of those trades are now cooling. If capital rotates back toward crypto into H2, the structural backdrop he describes, a bottom call plus renewed inflows, gets reinforced. The call is a sentiment marker rather than a price target, but it lines up with where several cycle-based analysts have been marking their entries.
Frequently asked questions
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What did Binance CEO Richard Teng say about the Bitcoin bottom?
Teng said Bitcoin is "pretty close to that bottom" and that the market is set up for an uptick into the second half of the year, framing the call around the four-year halving cycle.
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Why does Teng think Bitcoin is near a bottom?
He cited the traditional 360 to 380-day drawdown window from all-time high to cycle bottom, noting the market is now close to 300 days from the last peak, alongside tightening supply and rising utility demand.
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What is the four-year Bitcoin cycle he referenced?
It is the pattern, tied to Bitcoin's halving schedule roughly every four years, in which drawdowns from all-time high to cycle bottom have historically taken about 360 to 380 days before the next uptrend.
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Did Teng say anything about capital rotation into crypto?
Yes. He argued that AI and semiconductor stocks absorbed heavy flows in the first half of the year and that some of those trades are now cooling, freeing capital to rotate back into crypto into H2.
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Is Teng's call a price target for Bitcoin?
No. It is a sentiment and timing call based on cycle history and rotation flows, not a specific price level. Teng heads the largest crypto exchange by volume, so the call carries weight as a market read.
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