u.today
Tether CEO Paolo Ardoino, on Friday, Feb. 6, sparked fresh discussion in the crypto community after making a post that seems bullish for Bitcoin amid the deep price correction seen across the crypto market.
The long-time Bitcoin advocate and founder of the largest stablecoin firm expressed his current mood in relation to Bitcoin via a recent X post featuring a short video depicting an army at war, holding a shield and sword.
Considering the timing of the post and Bitcoin’s current market performance, Ardoino’s post has been widely interpreted as a metaphor for resilience and defense under the looming sell-off pressure.
Bitcoin drops 50% from ATH
Ardoino issued the post just after Bitcoin retested $60,000 as it continues to drop significantly in price.
Amid the prolonged price correction, the asset has now plunged by more than 50% from its all-time high, marking one of its deepest price declines in recent market cycles.
While the high market volatility has continued to spark doubts among investors, with the leading cryptocurrency facing sustained selling pressure amid broad market uncertainty, Ardoino’s recent post suggests that major players view the downturn as a test of endurance rather than a defeat.
While Bitcoin’s high-profile investors and institutional investors have continued to show resilience amid the deep price correction, they have continued to double down on Bitcoin’s dip, signaling long-term confidence in Bitcoin’s future price prospects.
Following the widespread narrative that periods of extreme volatility and fear often precede recovery phases, and that conviction is forged during market distress, the post issued by Tether’s CEO has further sparked hopes among smaller investors.