Foreign media reports that although BNB has recently come under pressure and fallen, derivatives and spot data still show that the market has not clearly shifted to a defensive stance. Among the positions held by top traders on Binance, the proportion of long positions continues to be higher than that of short positions, and the exchange balance is also declining, reflecting that some funds are still choosing to hold rather than sell.

Long positions still clearly dominate.

CoinGlass data shows that approximately 75.72% of BNB-related accounts are long, while short positions account for about 24.28%, resulting in a long-short ratio of 3.12. This indicates that even with weak price performance, market bets on a subsequent rebound remain relatively concentrated.

The article mentions a recent on-chain fund transfer related to the Humanity Protocol attackers. They exchanged approximately 130 ETH, worth about $221,000, for 382 BNB, and it's possible they will continue to transfer more funds. However, this move has not yet significantly impacted market sentiment.

Exchange balance continues to decline

In terms of spot market flows, BNB continued to flow out of trading platforms. Data shows a net outflow of approximately $2.04 million in a single day, indicating that the outflow exceeded the inflow.

Such changes typically indicate a reduction in positions that can be quickly sold, easing short-term selling pressure. Continued withdrawals also often suggest that some holders prefer to transfer assets out of the exchange for safekeeping rather than selling them immediately.

Liquidation increases, support levels become the focus

At the same time, the recent decline has begun to squeeze long positions. Liquidation data suggests that this round of price pullback triggered stop-loss orders from bullish traders more than forcing short sellers to exit.

Currently, BNB is repeatedly testing the support zone between $566.69 and $573. Resistance is at $618.27, followed by the area around $680. The article also mentions that the Parabolic SAR remains above the price, while the MACD continues below the zero line, indicating that upward momentum has not yet fully recovered.