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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/binance-coin-faces-liquidation-risks-as-market-rises/" data-wpel-link="internal">Binance Coin Faces Liquidation Risks as Market Rises</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/latest-developments-in-the-binance-vs-sec-case-circles-involvement-and-critical-decisions-by-judge-jackson/" data-wpel-link="internal">Binance</a> Coin’s (BNB)</strong> price has joined the upward trend of the broader market along with other cryptocurrencies. However, investors holding long positions could face the risk of liquidation. Liquidation in cryptocurrencies occurs when a leveraged position is automatically closed due to the investor’s margin balance being insufficient. At the time of writing, the analysis of BNB’s liquidation levels indicated the presence of a liquidity cluster ranging from approximately $329 to $340.</p> 
<h2 id="leveraged-trades-in-bnb">Leveraged Trades in BNB</h2> 
<p style="text-align: justify">Liquidation levels are estimated price points where significant liquidations could occur. However, this does not mean that <strong>BNB</strong> cannot reach these price levels in the short term. Data from HyblockCapital also showed signals from the Cumulative Liquidation Level Delta (CLLD). CLLD is the sum of the difference between all long liquidation levels and short liquidation levels. It was also suggested that the BNB CLLD is positive.</p> 
<p style="text-align: justify">In most cases, this data could indicate a token’s downward trend and could mean a full retracement is possible. In such a scenario, BNB’s price could drop to $315. On-chain volume data has risen to $1 billion in terms of volume. The increase in volume could be linked to growing interest in the cryptocurrency. If the crypto price continues to rise with the volume, <strong>BNB</strong> could surpass $327 in the short term. However, if the price moves downward while volume increases, BNB could lose its upward momentum. Therefore, its value could correct by up to 10% in the coming weeks.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-314433 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/santiment-4.webp" alt="" width="1386" height="829"></p> 
<h2 id="report-from-santiment">Report from Santiment</h2> 
<p style="text-align: justify">According to cryptocurrency analytics firm <strong>Santiment</strong>, the funding rate for Binance Coin is at -0.008%. The funding rate is the cost of holding an open position in the derivatives market. If the metric is positive, it could mean that its price is trading at a higher price compared to the spot price. However, since BNB’s funding rate was negative at the time of writing, this could indicate that its price is trading at a high level.</p> 
<p style="text-align: justify">Despite negative data, the inference here could be that short positions are not aggressive. Therefore, experts believe a significant bounce could be likely at the current position. However, if the measurement rises excessively and potentially reaches -0.01%, <strong>BNB’s</strong> price could recover. In this case, a move towards $400 could be reasonable.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/binance-coin-faces-liquidation-risks-as-market-rises/" data-wpel-link="internal">Binance Coin Faces Liquidation Risks as Market Rises</a></h5>

Binance Coin Faces Liquidation Risks as Market Rises

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