BNB Nearing $700 Again – Time to Buy or Wait?

Updated

May 28, 2025

Gambar BNB Nearing $700 Again – Time to Buy or Wait?

Jakarta, Pintu News – In recent weeks, Binance Coin has shown significant gains, approaching the $700 mark after having recorded a nearly 30% increase from its early April low of $520. This rise signals an accumulation phase that may be underway. But is it the right time to buy or should we wait?

BNB faces a wall of key deals

Currently, Binance Coin (BNB) has managed to break three consecutive higher peaks, a strong indication of an accumulation phase. However, the real challenge is to break through the strong supply wall that has long been a barrier to further price gains.

Technical analysis suggests that this could be a critical moment for investors considering entry. At this point, the right strategy and patience are key. Investors need to pay close attention to whether BNB can maintain its momentum or if there will be a significant price drawdown. The decision to buy at these levels should be based on in-depth analysis and an understanding of the broader market dynamics.

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Bitcoin’s (BTC) Dominance and Its Impact on Altseason

Bitcoin dominance is currently struggling to stay above the critical 64.14% level, with Bitcoin (BTC) itself moving flat within a narrow range. This is often seen as setting the stage for altcoin season, where other cryptocurrencies could start to significantly increase in value.

The early signals for this altseason setup are interesting, especially considering that Binance Coin (BNB) often moves in tandem with broader trends within the crypto market. If Bitcoin (BTC) continues to flatten, this could be an opportunity for Binance Coin (BNB) to attract the interest of investors looking for alternatives with higher growth potential.

The Role of Big Players in BNB Price Dynamics

Data from Glassnode shows that around 96.05% of the current Binance Coin (BNB) supply is held by whales who own more than 10,000 coins. This reliance on big players means that BNB’s price movements can be heavily influenced by their decisions to buy or sell at certain price levels.

Without the aggressive participation of these whales, Binance Coin (BNB) might have faced another cycle of volatility. Therefore, it is important for investors to monitor the activities of these big players, as they have the ability to significantly influence the market, both in the short and long term.

Conclusion

Observing the price movements of Binance Coin (BNB) and the factors affecting it provides important insights for investors looking to make informed decisions. Whether choosing to buy now or wait, the decision should be based on careful analysis and a good understanding of market conditions.

Also Read: Monero (XMR) Surprises Market with Spectacular Rise in May 2025, How Come?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.