Binance founder Changpeng “CZ” Zhao has highlighted his thoughts about buying Bitcoin amid price dips. This comes amid the speculation that the US President-elect, Donald Trump, may sign executive orders related to crypto on the first day of his tenure. Meanwhile, BTC prices have started showing signs of recovery with a notable price rise in the last 24 hours.
Binance Founder Changpeng “CZ” Zhao on Buying Bitcoin
Binance founder Changpeng “CZ” Zhao has published a post on X, highlighting that dips in BTC prices are an opportunity for traders and investors to buy Bitcoin tokens.
He added that the ongoing momentum reflects those earlier signs that many crypto investors and traders may have missed when BTC was beginning to gain traction on price charts. He has also clarified that his post is not financial advice.
Interestingly, Michael Saylor’s MicroStrategy bought Bitcoin worth $243 million to take total BTC holdings to 450,000. This has added to Bitcoin accumulation by investors, considering the long-term outlook.
Donald Trump’s Executive Order
It is speculated that Donald Trump will sign executive orders pertaining to cryptocurrencies on his first day as the US President. These executive orders reportedly address de-banking and bank accounting policies for cryptocurrencies. Bank accounting policy currently requires banks to list digital assets as liabilities, and Donald Trump’s signing the executive order will change that.
Donald Trump is also expected to give a green light to several US Crypto ETFs that have already been filed by issuers. JPMorgan has forecasted that Solana and XRP ETFs could bring an inflow of around $15 billion in the first 12 months after their approval.
BTC Price Recovery
Bitcoin price is recovering after advice by Binance founder Changpeng Zhao. Bitcoin prices are up by 5% in the last 24 hours, exchanging hands at $96,598, which shows a significant recovery from the latest crash. The 24-hour trading volume surged by 138.74% and is expected to grow as the macro headwinds clear.
As QCP Capital, the US PPI and CPI inflation data could come on the upside, as traders begin to readjust to the prolonged higher interest rate reality. They also added that the possibility of Trump signing executive orders on day one, addressing “de-banking” and repealing a contentious crypto accounting policy, could provide a required boost to the market.
Ongoing sentiments around BTC are bearish. However, market sentiments are expected to flip as BTC starts recovering and Trump gets closer to the US Presidential inauguration.
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