[Binance CEO Richard Teng says Bitcoin sell-off is normal; research shows a certain USD-denominated exchange had 2.75 times more net selling than Binance] According to Jinse Finance, on November 16th, Binance CEO Richard Teng posted on X that the recent decline in Bitcoin is a normal short-term pressure due to tightening macroeconomic conditions and a shift in AI funding sentiment. He stated that the long-term logic for Bitcoin and crypto assets remains intact, citing the continued maturation of institutional infrastructure and the adoption of new pathways. Binance co-founder He Yi also stated that volatility is "part of the market maturation process." Data from Binance Research shows that from November 11th to 14th, an unnamed USD-denominated spot exchange had 7,438 more Bitcoins in active sell orders than active buy orders, while Binance had 2,707, a difference of 4,731 Bitcoins. This means the former had approximately 2.75 times more net selling than Binance. The institute stated that this discrepancy is unusual, as Binance typically has larger trading volumes, but the data did not specify the trading parties, making it impossible to confirm whether they were institutional investors. In terms of market conditions, Bitcoin is trading at around $65,300, down nearly 3% in the last 24 hours, having hit a low of $62,081 during Sunday's trading session. The US spot Bitcoin ETF saw net outflows of $1.91 billion over seven consecutive trading days from November 5th to 13th, with $1.065 billion flowing out between November 9th and 13th.