4: ☝🏻

Binance founder CZ said he is less confident in Bitcoin’s supercycle thesis as prices slide and accusations of Binance-driven FUD resurface.

Changpeng “CZ” Zhao is dialing back his confidence in Bitcoin’s long-hyped supercycle thesis as prices slide and parts of the crypto community point fingers at Binance for recent market turmoil.
Speaking in a Broadcast on Binance Square earlier this month, Zhao said he has become “less confident” that Bitcoin is entering a supercycle, a theory that suggests the asset could break free from its historic four-year halving-driven pattern.
“A couple of weeks ago I was pretty positive about the bitcoin super cycle, but right now, given all the FUD and all the emotions that have been stirred up in the community, I’m less confident about it now, to be frank,” Zhao said in the broadcast.
Bitcoin has fallen sharply in recent days, dropping more than 10% over the past week and slipping below the closely watched $80,000 level. The sell-off has fueled renewed fears of a broader crypto downturn, with traders bracing for heightened volatility and potential liquidation-driven moves.
Total Crypto Market Cap | 1D
Zhao said global geopolitical uncertainty and growing market anxiety are compounding the pressure.
“The more FUD you kick up and the more you get the community all riled up, it does have negative effects,” he said, adding that the current environment makes near-term price direction difficult to predict. While Zhao said a supercycle remains possible, he put the odds at roughly 50%.
The comments come as Binance faces renewed scrutiny over its alleged role in October’s crypto flash crash, which triggered one of the largest liquidation cascades in the market’s history. Around $19 billion in leveraged positions were wiped out during the episode, leaving a lasting impact on liquidity.
Several industry figures have publicly questioned Binance’s involvement.
Ark Invest CEO Cathie Wood attributed recent Bitcoin weakness to what she described as a Binance software glitch, while OKX founder Star Xu suggested that a Binance-linked stablecoin yield campaign helped trigger the liquidation cascade and caused “real and lasting damage to the industry.”
Zhao has pushed back forcefully against those claims. In a post on X this week (https://x.com/cz_binance/status/2018389099883680254), he dismissed what he called “pretty imaginative FUD” accusing him and Binance of intentionally dumping Bitcoin to spark the sell-off.
He denied reports that Binance sold $1 billion worth of BTC, saying the funds in question belonged to users trading on the platform. He also addressed speculation that his comments on the supercycle had single-handedly derailed long-term bullish sentiment.
"I said 'I am less confident" than before... That's all," Zhao wrote, referring to his remarks about being less confident. “I assume I would also have the power to snap it back then?”
Zhao also defended Binance’s plan to convert its $1 billion Secure Asset Fund for Users from stablecoins into Bitcoin over a 30-day period, rejecting claims that the slow execution was evidence of market manipulation.
"Also, you think $1b over 30 days is going to make a difference for BTC's $1.7 trillion market cap? That's 1/1700/30 = ... anyway, you do the math. It's a gesture. Will it help with confidence, your call."