Bullish Bets on Binance Coin Rise Amid Market Volatility
The Essentials at a Glance
Bets on a bullish development of the Binance Coin (BNB) are increasing. With a current price of $584.82 and a rise of 52.26% in the last 30 days, the question arises whether BNB can reach or even exceed the $600 mark again. Despite the optimism of some traders, indicators and market movements show that there could be challenges.
Rising Interest in BNB Options
The volume of BNB options has increased by 68.38% ahead of the end of the month and the first quarter. The increase in open interest and a predominance of buy options (calls) over sell options (puts) suggest that traders are betting on a positive development of the BNB price. However, the path for bulls is not free from obstacles.
Market Indicators and Liquidations
Despite the bullish bets, the situation for BNB traders could become challenging. An increase in the positive funding rate with a declining BNB price shows that sellers in the spot market are acting more aggressively. In addition, recent price declines have led to an increased number of liquidations in long positions, suggesting that many traders were surprised by the price development.
The Role of Derivative Markets
Derivative markets play a crucial role in the price discovery and sentiment of cryptocurrencies. The current developments in BNB options and futures paint a mixed picture: on the one hand, there is optimism about a price increase, on the other hand, liquidations and market dynamics warn of possible setbacks.
Our Assessment
While there is hope for a return of BNB above the $600 mark, caution is advised. The market indicators and the recent increase in liquidations suggest that the situation remains volatile. Traders should closely monitor market developments and prepare for possible fluctuations. Ultimately, BNB’s ability to overcome the current challenges will be crucial to whether the bullish bets will bear fruit.
Sources
– AMBCrypto
– Coinglass
– Santiment
The 3 best cryptocasinos
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 20 USDT or equivalent |
| Maximum bet | 2 USDT |
| Bonus validity | 30 days to claim |
| 14 days to wager |
- Max bonus: 1 BTC • 150 BCH • 17 ETH • 333 LTC • 600,000 DOGE • 30,000 USDT • 42,857 XRP • 428,571 TRX • 100,000 ADA • 125 BNB • 30,000 BUSD • 30,000 USDC
- Maximum bet per round: 0.000066 BTC • 0.01 BCH • 0.0011 ETH • 0.02 LTC • 40 DOGE • 2 USDT • 2.8 XRP • 25 TRX • 6.6 ADA • 0.008 BNB • 2 BUSD • 2 USDC • 3 CAD
- Free spins are credited on “Max Miner” by Gamebeat.
| Wagering requirements | 40x bonus |
| Minimum deposit | 0,1 mBTC |
| Maximum bet | $5 per spin |
| Bonus validity | 7 days to wager |
- Max bonus amount: 1 BTC/10 ETH/10,000 USDT/10,000 USDC/100 BCH/200,000 TRX/35,000 ADA/150 LTC/125,000 DOGE
- There is no cap on winnings or withdrawals.
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 14 days for deposit bonus |
| 7 days for free spins |
- This bonus has no limit.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
Advertising transparency