Binance Coin (BNB) price extended its decline on Friday as the broader crypto market slid into a risk-off phase. BNB price fell more than 6% intraday, extending losses after failing to reclaim the psychologically important $900 level. The move comes amid a wider selloff across Bitcoin and major altcoins
Funding rates across major perpetual contracts flipped decisively negative, sliding into the -0.01% to -0.02% range, signalling traders paying a premium to stay short. At the same time, open interest dropped by roughly 8–10%, showing that leverage was being forcibly removed rather than rotated into new positions. Together, negative funding, falling open interest, and clustered liquidations point to a structural leverage reset, not a one-off panic move. BNB’s price rejection at $900 has shifted the short-term trend firmly bearish, with liquidation-driven selling exposing fragile market structure. Until leverage resets and price stabilizes above key resistance, downside risks remain dominant. For now, traders are watching whether demand can re-emerge near support, or if further deleveraging extends the decline. BNB’s price fell over 6% after failing to break the $900 resistance, triggering a wave of leveraged long position liquidations amid a broader crypto market sell-off. Over $100 million in long positions were liquidated as BNB broke below $880, accelerating the drop through forced selling rather than ordinary spot market activity. A swift recovery appears unlikely; derivatives data shows negative funding rates and falling open interest, indicating a bearish deleveraging phase must stabilize first.Final Thoughts
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