While the decline in Bitcoin and altcoins negatively affected the entire market, Binance CEO Richard Teng also made a downward comment.

Emphasizing that investors’ interest in Bitcoin continues despite the declines, Binance CEO pointed to spot Bitcoin ETFs as evidence of this interest.

Stating that there has been an inflow of 14.7 billion dollars into BTC ETFs in the last six months, Binance CEO said that these inflows are an indicator of investors’ confidence in BTC and digital assets in general.

Pointing out that although Bitcoin and altcoin prices have fallen recently, the long-term fundamentals of the cryptocurrency industry are still strong, Richard Teng pointed out that short-term declines should not negatively affect investors and that they should think long-term.

“Bitcoin ETFs listed in the US generated over $14.7 billion in net inflows in 6 months. Interest in Bitcoin and digital assets remains high.

Token prices and market caps fluctuate, but the long-term fundamentals of our industry are strong.

Stay focused and keep improving! “

In 6 months, US-listed Bitcoin ETFs brought in over $14.7B in net inflows. Key takeaway? Interest in #Bitcoin and digital assets remains high.

Token prices and market caps fluctuate, but the long-term fundamentals of our industry is strong.

Stay focused and keep building!

— Richard Teng (@_RichardTeng) July 9, 2024

*This is not investment advice.