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<div class="coingape"> 
 <p>Earlier this week on Tuesday, the <a rel="noopener noreferrer nofollow" title="BNB price" href="https://thebittimes.com/tag/bnb-price.html">BNB price</a> tanked under $210 levels with its year-to-date losses extending above 30%. There’s a fear brewing in the crypto space that an FTX-like situation could pan out with Binance if the <a rel="noopener noreferrer nofollow" title="BNB price" href="https://thebittimes.com/tag/bnb-price.html">BNB price</a> crashes further.</p>  
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 <p>Amid these developments, the Bitcoin price is also witnessing some selling pressure with a push under $26,000. Crypto analyst Mike Alfred suggests that if Binance were to suspend withdrawals, Bitcoin can actually bounce back strongly forming a dog candle. He wrote:</p> 
 <blockquote> 
  <p>“CZ is dumping Bitcoin again today trying to hold up the value of BNB. It’s not working. BNB is bleeding out. I expect a $200 break, potentially within 48 hours. After Binance shuts withdrawals for all customers, BTC will rally. Could even see a God candle. Will be fun”.</p> 
 </blockquote> 
 <h3 id="binance-bnb-coin-to-drop-under-200">Binance (BNB) Coin to Drop Under $200?</h3>  
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 <p>The <a rel="noopener noreferrer nofollow" title="BNB price" href="https://thebittimes.com/tag/bnb-price.html">BNB price</a> has bounced back from yesterday’s low of $205. As of press time, Binance (BNB) Coin is up 2.5% trading at $213 with a market cap of $32.9 billion. Alfred writes: “Hard BNB bounce at $204 back over $205 and the BTC sell pressure magically relents. CZ’s affiliated market makers are not doing a very good job masking this behavior. It’s too obvious”.</p>  
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 </div> 
 <p>Other market players have also joined in the Binance criticism. Popular trader Peter Brandt wrote: “<span class="css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0">I have stated for years that CZ and </span><span class="r-18u37iz">@binance </span><span class="css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0">is a global scam and </span><span class="r-18u37iz">$BNB</span><span class="css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0"> just a cheap fiat. Watch it all unravel”.&nbsp;</span></p> 
 <p>It’s too early to say anything at this moment, however, the crypto market is awaiting an assurance from Binance chief Changpeng Zhao who has yet to comment on the developments.</p> 
</div>

BNB Price Can Drop Under $200 But Bitcoin Can Bounce Back

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TheBitTimes

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