BNB Price Lags Below $700 Level — On-Chain Data Signals Dwindling Buy Pressure
The post BNB Price Lags Below $700 Level — On-Chain Data Signals Dwindling Buy Pressure appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The BNB price has exhibited a relatively strong level of volatility over the past few months — even when the crypto market has sometimes been sluggish. The altcoin started the year’s second quarter fighting to hold above the important $500 level, but has since regained a good amount of bullish momentum. The BNB price broke out of the choppy zone around the $600 mark in early May, mirroring the increasingly optimistic market sentiment in recent weeks. However, the altcoin seems to be struggling to breach the $700 level in its attempt to reclaim its all-time high price. BNB Gearing Up For An Aggressive Wave Of Volatility In a May 23 post on the X platform, investment data firm Alpractal explained the potential factors behind the recent sluggishness in the BNB price over the past week. The on-chain analytics platform pinpointed a relevant class of investors as the major drivers behind BNB’s latest bearishness. In the BNB price scenario, Alphractal looked at the “Whale vs Retail Ratio,” an on-chain metric that measures the level of exposure of whales to an asset compared to the retail investors. According to data from the market intelligence platform, the BNB whales, even more than other large altcoin investors, are becoming increasingly bearish than retail traders. Source: @Alphractal on X Furthermore, Alphractal highlighted that the buy pressure for the BNB token has declined to lower levels compared to last week. Moreover, considering the bullish impulse experienced by Bitcoin, the reaction of the BNB price in the past week has been quite tame relative to the rest of the market. According to the on-chain analytics platform, the dwindling buy pressure could imply aggressive short-term volatility for the BNB price. In addition to whales’ propensity…
Filed under: News - @ May 24, 2025 11:27 pm