TL;DR
- BNB fell 5.3% in 24 hours and is trading at $850, with a daily volume of $3.5 million and a market capitalization of $116 billion.
- More than $100 million in long positions were liquidated following the $900 rejection, pushing the price toward the $850–$800 support levels.
- The $880 area has consolidated as resistance. Funding rates are negative, and the drop in open interest reflects sustained selling pressure in the market.
BNB fell 5.3% in the last 24 hours and is trading at $850 per unit, according to CoinMarketCap. Its daily volume increased 4%, reaching approximately $3.5 million. The market capitalization is around $116 billion.
The price dropped sharply after rejecting the $900 level, triggering massive liquidations of long positions. Derivatives market data shows that more than $100 million in BNB were liquidated, concentrated in long positions, which deepened the decline down to the current support.
BNB Records Significant Market Liquidations
The $900 rejection marked the loss of the $880 support, turning the zone into resistance. BNB broke the recent high-low structure, pushing the next main support to the $800–$830 area. Any rebound toward $860–$880 will face heavy selling pressure unless $900 is reclaimed with significant volume.
The derivatives market recorded a leverage reduction. Funding rates for perpetual contracts turned negative, ranging between -0.01% and -0.02%, and open interest fell between 8% and 10%. This indicates that the selling was driven by forced closures rather than position rotation, concentrating pressure on BNB’s technical structure.
Sellers Dominate the Market
Spot market activity shows that sellers dominated the session. Selling pressure remained steady throughout the day, and there were no significant volume spikes suggesting immediate changes in direction.
Technical analysis places BNB with support at $850 and $800, and immediate resistance at $880. Price dynamics continue to be influenced by liquidations and derivatives activity, while trading flow remains limited.
BNB extended its decline amid the broader crypto market adjustment. For now, a recovery of technical levels, as well as of Bitcoin and the wider market, remains pending
