3 Minutes
BNB rallies 16% after weekend flash crash
BNB staged a powerful recovery on Monday, reversing much of the damage from the Oct. 10 flash crash. The token climbed roughly 16% in 24 hours to trade near $1,309 at press time, outpacing many top altcoins and signaling renewed trader confidence across spot and derivatives markets.
The weekend slump was part of one of the market’s steepest single-day drawdowns in recent memory, when the total crypto market cap plunged by more than $500 billion and nearly $19 billion in leveraged positions were liquidated. Despite that shock, BNB has shown relative resilience, rising about 11% over the last seven days and roughly 41% month-to-date.
Spot and futures volumes surge
BNB’s on-chain and off-chain trading metrics confirm the recovery is underpinned by real market flow rather than just short-term squeezes. BNB 24-hour spot volume jumped 50.2% to $8.94 billion, while derivatives activity picked up sharply. According to CoinGlass, open interest climbed 29.8% to $2.42 billion and futures volume nearly doubled, increasing 98.5% to $11.63 billion.
The concurrent rise in open interest and volume typically indicates traders are reopening positions and adding risk exposure, not merely unwinding old bets. That pattern is often read by analysts as a bullish signal for momentum-driven assets like BNB, especially when paired with improving spot liquidity.
Market narrative and CZ’s response
As BNB recovered, speculation swirled that Binance or its affiliates might have intervened to stabilize the token. Binance founder Changpeng Zhao (CZ) addressed these rumors on X, stating that neither he nor affiliated entities were buying or selling BNB in the days or weeks prior to the rebound. He reiterated that BNB has no designated market maker and that the token’s strength is driven by its developers, community, and deflationary tokenomics rather than artificial support.
Analysts praised BNB’s quick bounce. Some described BNB as a “flight-to-safety” token in the current environment, as its drawdown was milder compared with several altcoins that fell 15%–50% during the crash.
Technical outlook: support, resistance, and momentum
BNB’s price action formed a textbook V-shaped recovery on the daily chart, keeping the token well above the mid-Bollinger Band, which currently sits near $1,124. Momentum indicators are pointing higher: the relative strength index (RSI) is around 65, indicating bullish momentum but not yet overbought conditions.
BNB daily chart
Immediate resistance lies around the upper Bollinger Band near $1,370. A sustained breakout above this level could open a path toward $1,450–$1,500 and continue the broader uptrend that began in late August. On the downside, critical support is clustered between $1,100 and $1,150 — a zone where buyers are expected to defend against another correction.
What traders should watch
Traders monitoring BNB should keep an eye on spot and futures volumes, open interest, and liquidation flow to confirm whether the recovery is broad-based. Watch technical levels (mid and upper Bollinger Bands, RSI) and macro liquidity events that can trigger rapid repricing. As always, risk management matters: volatile environments after large liquidations can produce sharp reversals as quickly as recoveries.
Source: crypto
Comments
mechbyte
Feels a bit overhyped but ok. RSI 65 isnt overbought, yet upper band near 1370 needs a clean break. Quick sloppy trade could flip it fast
Tomas
Is this even true? CZ denies buying yet open interest and futures nearly doubled… who was pushing the price? smells fishy, or am I missing something
cryptowisp
Wow, BNB popping back 16% in 24h?? didnt see that coming. Wild liquidity move, hope this rebound sticks but bracing for more swings…
Leave a Comment