Just weeks ago, Changpeng Zhao—better known as CZ—was confidently sketching out a future where Bitcoin surged into a full-blown supercycle by 2026, fueled by institutions, regulation, and pro-crypto policy winds.
This weekend, the tone changed.
In a candid AMA session addressing a wave of market fear and online backlash, the former Binance CEO openly walked back his supercycle conviction, citing relentless FUD, violent volatility, and a world sliding deeper into geopolitical and macroeconomic uncertainty.
“A couple weeks ago, I was very confident about the supercycle,” CZ admitted.
“But now with all that FUD, I’m not sure.”
📉 From Bullish Certainty to Market Reality
CZ’s earlier optimism wasn’t casual. He had pointed to strong signals: institutional capital entering crypto, improving regulatory clarity, and governments increasingly open to digital assets. In his view, the ingredients for a multi-year bull run were finally aligning.
But the market had other plans.
Recent weeks have been marked by sudden liquidations, rumor-driven selloffs, and heightened sensitivity to global headlines—especially on Crypto Twitter, where misinformation spreads faster than facts. CZ acknowledged that this constant noise has materially shaped market behavior, triggering panic moves and exaggerated price swings.
One flashpoint was the $500 million liquidation event between January 29 and 30, 2026, a stark reminder of how quickly sentiment can flip in today’s leveraged market structure.
🌍 Why CZ Changed His Mind
According to CZ, the crypto market isn’t operating in isolation anymore. It’s increasingly entangled with broader global forces—and those forces are anything but stable.
He pointed to three key pressures reshaping his outlook:
Macroeconomic instability: Persistent inflation concerns and unclear monetary policy paths are weighing on all risk assets, crypto included.
Geopolitical tensions: Ongoing global conflicts and shifting policy alliances are injecting uncertainty into financial markets.
Runaway FUD: Rumors and half-truths amplified across social platforms are accelerating fear-driven liquidations.
“We live globally in a very volatile time,” CZ said, stressing that unpredictability now dominates every asset class, not just crypto.
🧐 Is the Bitcoin Supercycle Narrative Breaking Down?
Bitcoin’s recent price action hasn’t helped the supercycle case.
The asset has slipped to new yearly lows below $75,000, undermining short-term bullish narratives. At the same time, even traditional safe havens haven’t been spared—gold and silver have collectively shed more than $10 trillion in market value, highlighting how deep the volatility runs.
CZ emphasized that Bitcoin’s growing integration into the global financial system means it now reacts more sharply to macro shocks. In such an environment, he warned, short-term predictions are increasingly unreliable.
🧠 CZ’s Advice: Zoom Out or Get Shaken Out
Despite his caution, CZ hasn’t turned bearish—he’s turned patient.
Rather than chasing narratives or reacting to every headline, he urged the crypto community to refocus on long-term fundamentals.
His message was simple:
Build, don’t panic
Accumulate thoughtfully
Favor “buy and hold” over emotional trading
According to CZ, those who survive crypto’s noisiest phases are usually the ones who stop listening to the noise altogether.
🔮 What Could Still Power the Next Major Run?
While the supercycle timeline is now uncertain, CZ believes the long-term growth story remains intact. He pointed to several structural drivers that could still ignite the next major expansion:
Institutional adoption: Bitcoin’s role in corporate treasuries and investment funds continues to grow.
Regulatory clarity: Supportive frameworks could reduce uncertainty and unlock sidelined capital.
Technological progress: Ongoing innovation in blockchain infrastructure and derivatives markets is strengthening the ecosystem.
🧩 Final Take
CZ’s shift isn’t a surrender—it’s a recalibration.
The crypto market may not be heading into an immediate supercycle, but according to one of its most influential voices, the bigger opportunity lies in patience, discipline, and long-term conviction.
In a market ruled by fear and headlines, CZ’s new stance may be the most bullish signal of all:
build quietly, hold steadily, and let time do the heavy lifting.