#Binance has processed $4.65 billion in withdrawals. $7 billion was withdrawn from Binance in one day, and $BNB only fell 0.7%? Just reported by Cointelegraph: OKX had net inflows of $445 million, while Binance had net outflows of $7 billion. That’s quite a big contrast.
$BNB 706.7 is holding, open interest in futures is still shrinking, and funding rates are flat. Put simply, a bunch of money quietly left, but the futures market didn’t panic, and bears didn’t take the opportunity to add to their positions.
I’m slightly bullish. If it can’t be pushed down even with all this, the support below looks decent. But don’t call it safe—if the round-number level breaks, that’s another story. Exchange withdrawals can be easy to overstate; just because the price hasn’t moved doesn’t mean nothing’s going on.
Are you holding your BNB, have you sold, or are you waiting to see what happens at the round-number level?
#BNB #Binance
$BNB 706.7 is holding, open interest in futures is still shrinking, and funding rates are flat. Put simply, a bunch of money quietly left, but the futures market didn’t panic, and bears didn’t take the opportunity to add to their positions.
I’m slightly bullish. If it can’t be pushed down even with all this, the support below looks decent. But don’t call it safe—if the round-number level breaks, that’s another story. Exchange withdrawals can be easy to overstate; just because the price hasn’t moved doesn’t mean nothing’s going on.
Are you holding your BNB, have you sold, or are you waiting to see what happens at the round-number level?
#BNB #Binance
