BNB Outflows Signal Strong Buying Interest
Data shows that more BNB coins have been leaving exchanges since October 20, suggesting that investors are buying and holding rather than selling.
According to the Exchange Net Position Change, BNB recorded 982,619 coins in outflows on October 20, and by October 23, that number surged to 3.25 million BNB — a jump of more than 230% in just three days.
This pattern often means that large investors (whales) expect a price recovery or positive news, so they move their tokens off exchanges for long-term storage.
However, not all big players are joining the move yet. Wallets holding 10,000–100,000 BNB actually reduced their holdings from 1.43% on October 14 to 1.20% on October 23, showing that some whales are still cautious.
BNB Price Shows Strength Despite Uncertain Market
BNB’s price has been trading in a wide rising wedge since late July — a chart pattern that usually hints at a possible correction.
After dropping from its all-time high of $1,379 on October 13 to around $1,020, the price bounced back from key support levels and climbed to $1,105.
Technical indicators also show potential strength ahead. The Relative Strength Index (RSI) shows a hidden bullish divergence — meaning while prices are making higher lows, RSI is making lower lows. This usually suggests that the uptrend might continue.
If BNB manages to close above $1,242 (the 0.618 Fibonacci resistance level), it could rise further toward $1,302 or even retest $1,379.
However, if the price drops below $1,105, there’s a chance it could fall again to $1,020 or even $891.
