By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    For U.S. Defense Industry, These Minerals Really are ‘Critical’
    For U.S. Defense Industry, These Minerals Really are ‘Critical’
    May 14, 2025
    Did the US flinch first in tariff war with China? | Trade War News
    Did the US flinch first in tariff war with China? | Trade War News
    May 14, 2025
    Saudis use burgers to impress Trump (VIDEO) — RT World News
    Saudis use burgers to impress Trump (VIDEO) — RT World News
    May 14, 2025
    Sony shares rise in choppy trade as PlayStation maker announces .7 billion share buyback
    Sony shares rise in choppy trade as PlayStation maker announces $1.7 billion share buyback
    May 14, 2025
    U.S. to cut tariffs on small packages from China to as low as 30% – National
    U.S. to cut tariffs on small packages from China to as low as 30% – National
    May 14, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    Price analysis 3/10: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI
    Price analysis 3/10: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI
    May 14, 2025
    Ethereum retakes 10% control of crypto market, but ETH bulls shouldn’t celebrate yet
    Ethereum retakes 10% control of crypto market, but ETH bulls shouldn’t celebrate yet
    May 14, 2025
    Top South Korean presidential hopefuls support legalizing Bitcoin ETFs
    Top South Korean presidential hopefuls support legalizing Bitcoin ETFs
    May 14, 2025
    Ex-SEC Chair Gary Gensler privately supported crypto — McHenry
    Ex-SEC Chair Gary Gensler privately supported crypto — McHenry
    May 14, 2025
    Bitcoin Pepe nears .2M on Solana hype
    Bitcoin Pepe nears $8.2M on Solana hype
    May 14, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Crypto faltering – BNB about to go over the cliff?
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Cryptocurrency > Crypto faltering – BNB about to go over the cliff?
Crypto faltering – BNB about to go over the cliff?
Cryptocurrency

Crypto faltering – BNB about to go over the cliff?

Published August 21, 2023
Share
3 Min Read
SHARE

Contents
A bounce in sight?Plenty of bad news aroundBinance continues to suffer$BNB on the brink

The crypto market is at the edge of perhaps another move to the downside. Binance token $BNB needs to bounce soon, or face a drop into the void.

The crypto market is in the red for yet another day. Bitcoin is flirting with $26,000 currently, and should it now fall and go through the support at $25,000 then things could get rather uncomfortable indeed for the entire crypto sector.

A bounce in sight?

However, bitcoin is battling and bulls do not look as though they will go down without a real fight. A rather large gap on CME is open above, with the upper bound at $27,620. Given that bitcoin is also looking quite oversold, a potential bounce could be seen later today or tomorrow.

Plenty of bad news around

There is plenty of really negative news on the global financial front, such as Chinese property developer Evergrande going into bankruptcy, but these sorts of events are nearly always priced into the market.

With global financial markets at the edge of their own black hole, there will definitely be a need for bitcoin, which is outside of the huge timebomb of £1 quadrillion + in derivatives. Holders should think of this before selling.

Binance continues to suffer

One issue within the crypto ecosystem is that of the continuing SEC persecution of Binance, the largest crypto exchange in the world by trading volume. Having already published its intentions to sue the exchange and its CEO Changpeng Zhao, the enforcement overhang is having a deleterious effect on Binance.

$BNB on the brink

For the $BNB exchange token things are looking rather shaky. From a technical perspective, $BNB has fallen out of its bear flag and has lost the $220 support. A measured move out of the flag should still see $BNB fall a lot further, but this is probably immaterial as there is really no kind of decent support until under $50, which is a more than 4x drop into the abyss from here.

Should such a calamity befall $BNB, and the exchange goes into a nosedive, the impact for the rest of crypto could potentially be far worse than the FTX and LUNA meltdowns, putting the bull market on hold.

If this worst case scenario does come into fruition it should be remembered that bitcoin, ethereum, and some of the fundamentally stronger cryptos might be at bargain basement prices. Investors should do their research.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

#Crypto #faltering #BNB #cliff

TAGGED:BNBCliffCryptofalteringYears
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Whitney Port Addresses “Snarky” Comments Amid Concerns Over Her Weight Whitney Port Addresses “Snarky” Comments Amid Concerns Over Her Weight
Next Article Inside the life of baby killer Letby – and the friends who can’t believe it was her Inside the life of baby killer Letby – and the friends who can’t believe it was her
- Advertisement -

Latest Post

Price analysis 3/10: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI
Price analysis 3/10: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI
Cryptocurrency
For U.S. Defense Industry, These Minerals Really are ‘Critical’
For U.S. Defense Industry, These Minerals Really are ‘Critical’
World News
Ethereum retakes 10% control of crypto market, but ETH bulls shouldn’t celebrate yet
Ethereum retakes 10% control of crypto market, but ETH bulls shouldn’t celebrate yet
Cryptocurrency
Did the US flinch first in tariff war with China? | Trade War News
Did the US flinch first in tariff war with China? | Trade War News
World News
Top South Korean presidential hopefuls support legalizing Bitcoin ETFs
Top South Korean presidential hopefuls support legalizing Bitcoin ETFs
Cryptocurrency
Saudis use burgers to impress Trump (VIDEO) — RT World News
Saudis use burgers to impress Trump (VIDEO) — RT World News
World News
- Advertisement -

You Might Also Like

The Cubs’ quick pivot to buyer status perfectly captures this year’s NL wild-card race
Sports News

The Cubs’ quick pivot to buyer status perfectly captures this year’s NL wild-card race

August 1, 2023
BinaryX Hackathon: US,000 Cash Prizes For Gaming Developers Looking to Shape the Future of GameFi
Cryptocurrency

BinaryX Hackathon: US$25,000 Cash Prizes For Gaming Developers Looking to Shape the Future of GameFi

August 22, 2023
Price analysis 4/2: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, TON, LINK, LEO
Cryptocurrency

Price analysis 4/2: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, TON, LINK, LEO

May 2, 2025
Rexas Finance (RXS) Presale: Ushering in a New Era of Real-World Asset Tokenization
Cryptocurrency

Rexas Finance (RXS) Presale: Ushering in a New Era of Real-World Asset Tokenization

September 8, 2024

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?