Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/binance-coins-market-activity-intensifies-with-price-fluctuations-and-investor-alert" rel="noopener noreferrer nofollow">Binance Coin’s Market Activity Intensifies with Price Fluctuations and Investor Alert</a><br></p>
<p style="text-align: justify">As the cryptocurrency market experiences a collective uptrend, Binance Coin (<a href="https://en.bitcoinhaber.net/bnb-chain-reports-significant-drop-in-crypto-losses-for-2023" rel="noopener noreferrer nofollow">BNB</a>) has also seen its price escalate, correlating with the overall market momentum. Nevertheless, this rise comes with increased risk for investors who have long positions, particularly due to the looming threat of liquidation. The current analysis highlights a specific zone, priced between $329 and $340, where BNB faces a high concentration of liquidation risk.</p>
<h2 id="insights-on-bnb-s-liquidation-points">Insights on BNB’s Liquidation Points</h2>
<p style="text-align: justify">Liquidation levels are critical thresholds where substantial liquidations can trigger, potentially impacting BNB’s value. However, reaching these price levels doesn’t necessarily preclude a short-term rise in BNB’s value. HyblockCapital’s data on cumulative liquidation level delta (CLLD) for BNB, which is an aggregate measure of the disparity between long and short liquidation levels, currently shows a positive trend.</p>
<p style="text-align: justify">Typically, such data points towards a potential downtrend leading to a price retraction to levels such as $315. BNB has also witnessed a surge in on-chain volume, crossing the $1 billion mark. This increased volume could suggest a spike in interest, which may propel BNB’s price to clear $327 shortly. Yet, if the price dips with a concurrent volume increase, BNB might see its upward momentum falter, potentially leading to a value correction of up to 10% in the coming weeks.</p>
<h2 id="santiment-s-funding-rate-analysis">Santiment’s Funding Rate Analysis</h2>
<p style="text-align: justify">From the perspective of Santiment, a cryptocurrency analytics firm, the funding rate for Binance Coin stands at -0.008%. This rate reflects the cost to maintain an open derivatives position. A negative funding rate, as in BNB’s case, suggests that its trading price might be elevated. Despite the negative implications of this data, it could also imply that short positions are currently not as aggressive, suggesting that a price bounce is plausible. Should this rate drop further, reaching -0.01%, a recovery in BNB’s price might occur, possibly even aiming for the $400 range.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/binance-coins-market-activity-intensifies-with-price-fluctuations-and-investor-alert" rel="noopener noreferrer nofollow">Binance Coin’s Market Activity Intensifies with Price Fluctuations and Investor Alert</a></h5>

Binance Coin’s Market Activity Intensifies with Price Fluctuations and Investor Alert

목차

BH NEWS

2024년 2월 14일에 게재된 다른 기사

Polygon PoS Bridge Achieves Record Volume, Leading the Pack

🗒 Daily Newsletter | Wednesday, February 14th, 2024

Japan’s regulator suggests ‘stopping’ P2P transfers from fiat to crypto

Top Cryptocurrency for Immediate 20x Gains in February 2024

Craig Wright can’t name a single person who got BTC gifts from Satoshi

Shiba Inu Surges 1,708% as Whales Make Intriguing Moves

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!