Binance Coin (BNB) is experiencing a sharp decline, dropping almost 10% this week, a movement confirmed by a lack of momentum in the derivatives market. This price drop comes amidst CZ's public surprise and denial of any connection to the Trumps following his recent presidential pardon.
BNB Momentum Fades (Controlled Weakness)
- Price Action: BNB's price failed to sustain a recovery above the $1,000 zone on the daily chart, indicating investor caution.
- Technical Indicators:The technicals support this weakness:
- Volume remains low, suggesting traders are unwilling to "buy the dip."
- The RSI is bearish (near 41) but not oversold, meaning there's no immediate capitulation or strong signal for a rebound.
- The MACD is deep in negative territory, confirming the prevailing downtrend.
- Outlook: The current state is characterized as "controlled weakness." Without a significant surge in demand, BNB is likely to drift lower before finding strong support.
Derivatives Market Stays Quiet
Despite the spot price decline, the derivatives market shows unusual calm, reflecting trader hesitation:
- Open Interest (OI): OI is flatlining near $866 million, indicating that big money is not aggressively opening new positions in either direction.
- Funding Rates: Aggregated Funding Rates are close to zero (0.0005%). This suggests a balance of leverage—neither long nor short traders are applying significant pressure.
- Conclusion: Derivatives traders are opting to wait out the uncertainty, keeping market activity subdued and contributing to BNB's weak momentum.
CZ Clarifies Pardon Controversy
Adding to the narrative surrounding Binance and its co-founder:
- CZ's Reaction: In a recent interview, CZ expressed surprise at receiving his presidential pardon.
- Denial of Ties: He emphatically denied any business or personal ties to Donald Trump or his family, clarifying that his legal team had simply filed a standard pardon request months ago without any specific timing knowledge.
The combination of the price slide and the surrounding controversy means traders are closely watching whether the narrative tension will begin to impact the broader Binance ecosystem.
November 2025, Cryptoniteuae