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BNB Breaks $700 Yet Bulls Remain Hesitant – Here’s Why
Despite breaking the psychological barrier of $700, Binance Coin (BNB) is unlikely to get a significant boost in momentum from its recent price action. The asset has been slow to respond to market trends, leaving many bulls hesitant to jump back into the fray.
While other top altcoins have seen significant capital inflows and subsequent double-digit gains, BNB’s underperformance has raised concerns among investors. This divergence in performance is likely to persist, as institutional interest remains concentrated on higher-risk assets.
Data suggests that wallets holding over 10,000 BNB have hit a near three-month low, indicating that some large holders are liquidating their positions into strength. On the other hand, whale cohorts across top majors have pressed new highs, solidifying their dominance in the market.
Source: ambcrypto.com
