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3 reasons why Binance’s BNB token risks sliding further by March

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A slew of technical, fundamental and on-chain indicators hint at more pain for BNB’s price in February.

On Feb. 13, BNB (BNB) recorded its worst daily performance since November 2022, falling 8.5% to below $285. BNB’s price has since recovered to over $298, but its possibility of facing another sell-off remains high. Let’s take a look at a few reasons why.

BNB price rising wedge breakdown

The ongoing decline in BNB’s price came as a part of a broader rising wedge breakdown.

Notably, on Feb. 9, BNB broke out of its rising wedge pattern, a bearish reversal setup that forms as the price trends upward inside a range defined by two ascending, converging trendlines.

7df62df3-f6c1-4671-b944-c3a3711841bb.pngBNB/USD daily price chart featuring rising wedge breakdown setup. Source: TradingView

As a rule of technical analysis, a rising wedge’s profit target is measured after subtracting the maximum distance between the pattern’s upper and lower trendline from the breakdown point.

Therefore, BNB’s rising wedge target comes to be near $250, down about 15% from current prices. Interestingly, the $250 level also served as support in May, September and November 2022.

SEC crackdown on Binance USD

The sell-off pressure in the BNB market escalated primarily due to the United States Securities and Exchange Commission’s (SEC) crackdown on crypto company Paxos.

The regulator has accused Paxos of issuing and listing Binance USD (BUSD) — a Binance-branded stablecoin — which it deems an unregistered security. Paxos has categorically denied the allegation, noting that it would go to court if necessary.

But markets have become fearful after this news. For instance, the number of addresses holding between 1,000 and 10 million BUSD dropped dramatically since Feb. 13, dumping over $207 million in stablecoins, according to data from Santiment.

The number of addresses holding 1,000 to 10 million BUSD. Source: Santiment

“This is an astounding level of stablecoin dropping, especially while the other three stablecoins (Tether, USD Coin, Dai) have been seeing big holder accumulations,” noted Santiment, adding that the ramifications of the SEC lawsuit have been pushing BNB price lower.

“It also is seeing a month-high in trading volume as its price has dropped, meaning there is a higher probability of the plummet potentially continuing.“
3532258a-4972-4479-bfa2-a76ceeefc6a3.pngBNB trade volumes. Source: Santiment

FUD event? Fishes, whales, sharks dump BNB

From an on-chain perspective, BNB holding sentiment has weakened across all address cohorts, which include both small (fishes) and large investors (whales and sharks).

Related: Binance and Huobi freeze $1.4M in crypto linked to North Korean hackers

Notably, the number of addresses holding 0.001 to 10 million BNB dropped significantly in January 2023 and has been unable to recover since. This increases the token’s possibility of continuing its downtrend in February.

The number of addresses holding 1,000 to 10 million BNB. Source: Santiment

On a brighter note, the number of addresses holding 10,000–100,000 BNB tokens has recovered modestly, indicating some whales have been buying the dip.

Santiment concedes that the ongoing downtrend may not extend in the longer run, saying the SEC crackdown may be “a short-term FUD event.“

“Yes, it’s possible that this is one of those instances where people panic and everything returns to normal for Binance by Friday [Feb. 17].“

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Source

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  • 15.10.25 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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