Catherine Coley, the CEO of Binance US, revealed that the coronavirus quarantine in Asia drove a surge in trade volume during an interview with Bloomberg on March 16.

On the bailiwick of the recent correlation betwixt Bitcoin (BTC) and the S&P 500, Coley asserts that both the traditional cryptocurrency markets are playing out a familiar long-term cycle.

She states that the markets are experiencing what she terms the "CRIC cycle" — where "crisis" yields a market "response," followed by "improvements," and then a return to "self-approbation," before the cycle so repeats:

"So, in the regular traditional asset classes, as with Bitcoin, you lot're seeing that complacency in the market place turn into crisis, creating panic. That's going to generate sell-off beyond the board."

Bitcoin is resilient to real-world supply-chain shocks

She emphasizes that the cryptocurrency markets are underpinned past "technology that we tin can trade on 24/vii, regardless of our environs," describing the ecosystem as impervious to the "supply concatenation bug that we are seeing from national traded stock."

"You also saw [...] a resurgence of trading volumes taking identify in Asia when the [...] quarantine took place. So I think you volition come across the aforementioned thing happen in the U.S. when we get more firm guidelines on what the quarantine means for America," she said.

"I retrieve you come across Bitcoin being something that we can continue to engage with, regardless of the safety and concerns of the U.S. and globally," Coley adds.

Electric current BTC prices are affordable for institutions

Coley argues that the cryptocurrency ecosystem has matured significantly over the last year, adding that current prices may lure institutional investment:

"Nosotros've seen such a maturing from final year in this space, with institutions being able to identify who are really the players in the crypto space, and now the prices are at present affordable for those institutions to come in."

When questioned equally to whether Bitcoin's perceived condition every bit a 'safe-oasis' asset has been challenged by recent market volatility, Coley states, "I call back that markets are all the same trying to figure out what exactly 'prophylactic-haven' means."

Still, Coley predicts that Bitcoin's lack of dependence on the physical globe volition see it go on to trade with forcefulness despite global quarantine efforts and economic challenges faced amid the coronavirus threat.

Since launching in September 2022, Binance.US has steadily increased the number of crypto avails listed on its platform. In March, the commutation appear support for Tezos (XTZ) and started accepting USD Coin (USDC) deposits.