Binance has returned to the middle of market consideration following the October 10 crash, an occasion that marked one of the vital violent deleveraging episodes of the present cycle. On that day, a pointy wave of liquidations swept by way of derivatives markets, erasing billions in open curiosity and exposing the extent of extreme leverage throughout a number of exchanges.
Binance stood out throughout the turmoil not as a result of it drove the sell-off, however as a result of its liquidation footprint was notably smaller relative to its market share, highlighting variations in leverage focus and danger administration in contrast with rival platforms.
Quick ahead to right now, and the broader market backdrop stays fragile. Bitcoin is buying and selling under the $80,000 degree, whereas Ethereum has slipped underneath $2,300, reinforcing the notion that the market has entered a corrective, if not outright bearish, section. Macro uncertainty, shrinking liquidity, and weakening spot demand have led many analysts to anticipate additional draw back earlier than any sturdy stabilization can happen.
Towards this backdrop, new information from Arkham has added an surprising twist. Arkham reviews that Binance’s SAFU fund has begun accumulating Bitcoin, buying 1,315 BTC—price roughly $100 million—throughout the final hour. This transfer contrasts sharply with prevailing risk-off sentiment and means that, whilst costs development decrease, Binance could also be positioning defensively or opportunistically amid market stress.
Binance Underneath Scrutiny because the Market Searches for Route
Many analysts have been fast to level fingers at Binance and its founder, Changpeng Zhao, following the newest wave of market weak spot. The criticism largely stems from Binance’s dominant place in international derivatives buying and selling, its deep liquidity swimming pools, and its outsized affect on funding charges, open curiosity, and liquidation dynamics.
In durations of stress, any sharp transfer originating on Binance tends to ripple throughout the complete crypto ecosystem, reinforcing the notion that the trade acts as a central transmission level for volatility.
Nevertheless, regardless of the depth of those claims, there may be presently no concrete on-chain or market proof displaying that the trade or CZ actively triggered or engineered the current sell-off. Liquidation information means that leverage was broadly distributed throughout a number of platforms, and in a number of situations, Binance recorded a smaller share of pressured liquidations relative to its market share. This weakens the argument that Binance was the first supply of systemic stress.
What seems extra possible is that Binance is being conflated with broader structural points: extreme leverage, thinning liquidity, and fragile investor sentiment. These circumstances can amplify strikes no matter the place they start. The approaching days might be important. How value reacts, how leverage resets, and whether or not spot demand returns will decide whether or not the market stabilizes—or confirms {that a} deeper bearish section is unfolding.
Bitcoin Breaks Key Weekly Construction
Bitcoin’s weekly chart displays a transparent shift in market construction following the lack of the $80,000 psychological degree. After failing to reclaim the 50-week shifting common (blue line), BTC has resumed its downward trajectory, confirming this zone as lively resistance slightly than momentary consolidation. The rejection close to the mid-$90K space marked a decrease excessive relative to the 2025 peak, reinforcing a broader bearish development on larger timeframes.
Value is now buying and selling under each the 50-week and 100-week shifting averages, whereas the 200-week shifting common (purple line) continues to rise nicely under present ranges. This configuration traditionally indicators a transition section, the place momentum has turned destructive however long-term structural help has not but been examined. The current breakdown towards the $74,000–$78,000 vary locations Bitcoin again close to a former high-volume space from early 2025, which can provide short-term stabilization however doesn’t but qualify as a confirmed backside.
Quantity dynamics add to the cautionary outlook. Promoting stress has elevated on down weeks, whereas rebound makes an attempt have been accompanied by weaker quantity, suggesting restricted conviction from consumers. This sample aligns with distribution slightly than accumulation.
Until Bitcoin can reclaim and maintain above the 50-week shifting common, the trail of least resistance stays to the draw back. On this context, the market seems to be coming into a corrective or early bear section, with additional draw back danger towards deeper demand zones nonetheless unresolved.
Featured picture from ChatGPT, chart from TradingView.com
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