$BNB 697, the money from this 7-day run of pulling from 600 to 727 was borrowed. Now the creditor has already run off. The on-chain margin loan dropped 99.94% within 12 hours; the contract’s open position size was system-labeled as “longs liquidated,” the funding rate goes to zero—leveraged long positions collectively concede defeat. I’m bearish on this trade.
For now, spot trading is still showing positive net inflows over the past three hours, and the buy-side on the order book is also thick—it looks like someone is propping it up. But in the last 15 minutes, the large orders flipped to net outflow; active sell orders are pressing harder than buys. The “catchers” underneath are just retail small orders.
Once the logic for supporting the price is gone, the price will collapse toward the actual buy demand. That layer of cushion around 688 can’t hold—next I’m looking at 677.
When I’ll admit I’m wrong: spot large orders turn positive again, open interest stops falling, and the price regains 705 on increased volume—then I’ll flip back. #bnb $BNB
For now, spot trading is still showing positive net inflows over the past three hours, and the buy-side on the order book is also thick—it looks like someone is propping it up. But in the last 15 minutes, the large orders flipped to net outflow; active sell orders are pressing harder than buys. The “catchers” underneath are just retail small orders.
Once the logic for supporting the price is gone, the price will collapse toward the actual buy demand. That layer of cushion around 688 can’t hold—next I’m looking at 677.
When I’ll admit I’m wrong: spot large orders turn positive again, open interest stops falling, and the price regains 705 on increased volume—then I’ll flip back. #bnb $BNB
