$BUSD undergoes a daily vertical plunge, dropping from 0.267 to 0.099. The once โstableโ dollar stablecoin is now down to just ten cents. With $318M in trading volumeโall of it is capital fleeing.
Chart review:
From July 6 to July 10, BUSD churned sideways in the 0.15โ0.17 range for a full five days. Volume was extremely low; on the 4-hour chart, volume fluctuated between 1.5M and 12M. Nobody was trading it. Liquidity was nearly dried up.
The 4h candle starting at 12:00 on July 10 began to act strangely. Price jumped from 0.162 to 0.2084, with volume of 69.16Mโabout 8x the average volume of the previous 20 candles. Someone came in.
Then things got crazier. The 4h candle at 16:00: volume hit $211M, and price surged to 0.2360. At 20:00, it kept pushing up to 0.2278. From 00:00 to 04:00 on July 11, price peaked at 0.2674; 4-hour volume reached $332Mโthis was the highest volume of the entire cycle.
Then it collapsed. The 4h candle at 08:00 was smashed from 0.1856 all the way down to 0.1067, an amplitude of 79%. Volume was $382M. Longs were liquidated across the board. The 12:00 candle was even worse: volume of $794M, price hitting a historical low of 0.0992, then rebounding to 0.1054. Total traded value in that single candle exceeded $100M.
Support is around 0.099 โ the freshly printed historical low. Resistance is in the 0.18โ0.19 range, the platform area before the breakdown. 0.267 is the short-term ceiling; most likely it wonโt be revisited.
Funding rate and sentiment:
Funding rate is 0.005%, basically zero. Long and short power is extremely balancedโor, more accuratelyโnobody wants to hold positions overnight. Mark price 0.1055, index price 0.1055, completely identical. No premium, no discount.
The long/short ratio API didnโt return data, but from the order book itโs clear: during the 4-hour period from 04:00 to 08:00, the $332M long positions were all liquidated when price crashed. Now itโs โruins time.โ
Open position size: 85.57M. For a trading asset at about 0.10, this implies a notional open position of $8.55M. For a stablecoin thatโs getting delisted, thatโs an abnormal amount of speculation.
Whale moves:
BUSD is a fiat-collateralized stablecoin issued by Paxos. Thereโs no on-chain transfer data to track, but the price action tells me everything: someone accumulated in the 0.15โ0.17 range, then wildly pumped it above 0.22, and finally cleared out at 0.10. Thatโs a complete distribution cycle. Of the $318M trading volume, most occurred during the breakdown phaseโwhales were dumping.
News backdrop:
BUSDโs background is very clear. Paxos was ordered to stop issuing as early as 2024 by New York regulators. After the SEC investigation ended without penalties, BUSD was already in an orderly exit process. Binance kept delisting BUSD trading pairs, shifting liquidity to USDT and USDC. This is a stablecoin thatโs dying.
Todayโs extreme volatility is essentially the liquidation of the last liquidity pool. Some bet that BUSD would go to zero; others bet that 0.10 is the bottom. But either wayโitโs blood on the edge of the knife.
Niniโs plan:
Current price: 0.1055. Stance: no touch.
BUSD isnโt tradingโitโs gambling. During this orderly phase-out, its final destination is either zero or a 1:1 redemption by Paxos (assuming you hold spot BUSD). The perpetual contract price may never return to $1.
If you absolutely must play:
- Long: enter at 0.099โ0.10, stop loss 0.08, target 0.15, risk/reward about 2.5:1. Youโre betting on a technical rebound after liquidity dries up.
- Short: enter on a rebound around 0.13โ0.14, stop loss 0.18, target 0.08, risk/reward about 1.7:1. Youโre betting on a slow drift toward zero.
Risk is extremely high on both sides. Slippage will make you doubt your life.
My take:
This is a dead coin. Itโs not a downward trendโitโs a delisting/exit process. Price has no anchor. Iโve watched charts for over a decade; with assets like this, thereโs only one ruleโdonโt touch.
The money youโre licking off the knife edgeโI stopped earning that a long time ago.
Do you think 0.10 is the bottom, or just partway down the hill?
#BUSD #็จณๅฎๅธ #Binance delisting