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Binance CEO Richard Teng has described Bitcoin’s recent selloff as a normal reaction to tighter financial conditions, even as new exchange data shows considerably heavier selling on a major dollar-denominated trading platform than on Binance.

• Binance CEO Richard Teng described Bitcoin’s recent selling pressure as a normal reaction to economic uncertainty.

• Binance Research recorded 7,438 BTC in net aggressive selling on a dollar-based exchange, versus 2,707 BTC on Binance.

• Bitcoin price declined 15.6% over 11 days as researchers identified growing concerns about AI financing and liquidity.

• US spot Bitcoin ETFs recorded approximately $1.91 billion in withdrawals across seven consecutive trading sessions.

• Binance Research identified Nvidia’s November 17 earnings report as a development to watch for AI financing signals.

In a November 15 post on X, Teng linked the decline to tighter economic conditions and growing uncertainty surrounding artificial intelligence financing. He wrote, “Short-term pressure across markets is a normal reaction to tightening macro conditions and shifting sentiment around AI financing.”

Despite the losses, Teng maintained that “the long-term case for Bitcoin and crypto remains intact,” citing continued development of institutional infrastructure and cryptocurrency adoption.

Short-term pressure across markets is a normal reaction to tightening macro conditions and shifting sentiment around AI financing. But the long-term case for Bitcoin and crypto remains intact: institutional infrastructure continues to mature, adoption pathways are advancing, and… https://t.co/R4f0rUdHUo — Richard Teng (@_RichardTeng) November 15, 2026

Binance co-founder Yi He shared the same assessment through her X account. Echoing Teng’s remarks, she said that “institutional infrastructure continues to mature” and described market volatility as “part of the process of a maturing market.”

Bitcoin was trading near $65,300, down nearly 3% over 24 hours, according to BTC price data. The cryptocurrency had fallen to $62,081 during Sunday’s session before recovering part of its losses.

Binance Research finds stronger Bitcoin selling on dollar-based exchange

Binance Research reported that aggressive Bitcoin selling exceeded aggressive buying by 7,438 BTC on a major dollar-denominated spot exchange between November 11 and 14. During the same period, Binance recorded a smaller imbalance of 2,707 BTC.

The difference amounted to 4,731 BTC, leaving the unnamed platform with approximately 2.75 times more net selling than Binance. Researchers described the gap as unusual because Binance typically handles larger trading volumes.

The figures compare market orders initiated by sellers against those initiated by buyers. They do not identify the traders behind the transactions or establish whether institutional investors were responsible.

Separate market data had already pointed to weak US demand. The Coinbase Premium Index remained negative for 51 consecutive days through November 13, when Bitcoin traded at a 0.10% discount on Coinbase compared with Binance.

The prolonged discount indicated weaker relative buying activity on Coinbase, although the premium alone could not establish the source or purpose of individual transactions.

Bitcoin loses 15.6% as AI financing concerns weigh on markets

In another market assessment, Binance Research said Bitcoin had declined 15.6% over the 11-day period shown in its chart, its steepest comparable selloff since June.

Over the same period, perpetual contracts tracking Nebius Group, which trades under the ticker NBIS, fell 27.5%. The research team used those contracts as a measure of investor sentiment toward companies exposed to AI infrastructure financing.

Researchers linked the parallel declines to growing concerns over interest rates, dollar liquidity and the sustainability of AI investment. However, the comparison does not establish that AI-related selling directly caused Bitcoin’s losses.

Teng’s comments offered a longer-term perspective on those concerns. He argued that cryptocurrency infrastructure continued to develop despite the decline, with institutions building services that could support adoption.

The debate has intensified ahead of Nvidia’s November 17 earnings report. Investors are expected to examine the company’s financing commitments and business outlook following Jensen Huang’s resignation as CEO.

BitMine Chairman Tom Lee raised another possible explanation in his assessment of the crypto crash. He suggested that investors preparing for Anthropic’s planned IPO might have sold cryptocurrency to raise cash, although no figures establish how much Bitcoin was sold for that purpose.

Bitcoin ETF outflows reach $1.91B over seven trading sessions

Institutional investment products have experienced substantial withdrawals throughout the decline.

Farside Investors recorded $1.91 billion in net outflows from US spot Bitcoin ETFs across seven consecutive trading sessions between November 5 and November 13.

The November 9–13 week accounted for $1.065 billion of those withdrawals. On Friday, the funds lost another $185.4 million, including $143.5 million from BlackRock’s IBIT and $41.9 million from Fidelity’s FBTC.

As crypto.news previously reported, cryptocurrency ETFs collectively lost $1.53 billion during the week, with Ethereum funds contributing another $398.9 million in withdrawals.

Binance Research described the seven-session Bitcoin ETF outflow streak as one of the worst since the products launched. The continued withdrawals accompanied weaker spot demand during a period of heavy cryptocurrency selling.

US spot Bitcoin ETFs were closed during the weekend decline. Their next trading session is scheduled for Monday, November 16.

Binance Research watches Nvidia earnings as Bitcoin liquidations mount

Leveraged trading losses accompanied the latest decline. A November 15 CoinGlass snapshot showed approximately $1.96 billion in cryptocurrency liquidations over 24 hours, with Bitcoin accounting for nearly $750 million.

Of the Bitcoin total, roughly $600.5 million involved long positions. Exchanges automatically closed those trades when falling prices left traders without sufficient collateral.

The Bitcoin decline toward $62,000 followed a difficult week in which the cryptocurrency repeatedly lost support levels, including $70,000 and its 200-week moving average.

Binance Research said it would monitor whether US spot selling and ETF withdrawals begin to ease. The research team identified Nvidia’s November 17 earnings call and comments from its new leadership about financing commitments as the next developments to watch.