Binance co-founder Changpeng Zhao urged the cryptocurrency community on Monday not to panic over Bitcoin's ongoing downturn, voicing confidence that the leading cryptocurrency will bounce back despite recent market turbulence. Zhao, known as CZ, addressed the surge in negative sentiment and search interest surrounding the asset, emphasizing that the current wave of fear is temporary.

Search Interest Surges

Google Trends data indicates that search interest for the term "Bitcoin is dead" shot to an all-time high of 100 in February and has climbed back up strongly during the recent downturn. This metric often spikes during periods of significant price decline, reflecting retail investor anxiety. Despite the data, Zhao reassured supporters, stating on X, "Bitcoin won’t be ‘dead’ for too long. Don’t panic, in large friendly letters."

Historical Context and Strategy

The Binance founder has utilized similar calming language during previous market corrections. In February 2025, he posted on X, "No need to panic, Bitcoin won’t die." Zhao, whose fortune is estimated at $109 billion, remains a prominent advocate for Bitcoin. He advocates for a strategy of selling when greed reaches its peak and buying when fear is at its highest to maximize returns amid Bitcoin's erratic cycles. Last year, he revealed that BNB made up over 98% of his cryptocurrency portfolio, with only 1.32% allocated toward Bitcoin.

Market Downturn Drivers

Zhao's comments arrive amid fresh turmoil in the Bitcoin market, where the leading cryptocurrency tumbled below $60,000 to hit its lowest level since October 2024. The downturn accelerated after Strategy—Bitcoin’s largest corporate buyer—reported selling some of its BTC holdings. This action undermined the "never sell" thesis that many bullish investors had relied upon, contributing to the broader market sell-off.

SkyBridge Capital founder Anthony Scaramucci stated on Tuesday that Bitcoin appears to be following its typical four-year cycle and may be nearing a bottom. He suggested that if the cycle theory holds, the cryptocurrency could recover by the early part of Q4 2026 or possibly into Q1 2027. Scaramucci described the pattern as a self-fulfilling prophecy where traders sell to match market expectations.

During a conversation with Galaxy Digital CEO Mike Novogratz, Scaramucci emphasized his status as a long-term believer in Bitcoin. He highlighted that the asset is currently moving through a phase of accumulation, a bull run, and a subsequent bear market. The founder noted that over 70% of his net worth is invested in Bitcoin, and he has set a $1 million price target for the asset by 2032.

Scaramucci pointed to the Relative Strength Index (RSI) as a key indicator supporting his view. As of the report, Bitcoin's RSI was below 30, a level that typically indicates an asset is oversold and may be due for an upward price bounce. This technical signal aligns with his observation of the four-year cycle playing out.

Other market experts have echoed similar sentiments regarding Bitcoin's trajectory. Lucy Gazmararian, Founder and Managing Partner of Token Bay Capital, stated the current environment resembles previous mid-cycle bear markets. She expects a recovery by the end of 2026 but warned that a failure to recover by Q4 could signal more serious issues.

Ali Martinez, a cryptocurrency analyst and trader, also leaned toward the possibility of a market bottom. He identified $53,900 and $43,150 as key historical zones where premier accumulation windows have formed. At the time of writing, BTC was trading at $61,237.57, up 3.42% in the last 24 hours.