Is BNB going to drop after the rally? There’s something fishy behind this pullback! Players, don’t panic; keep an eye on this signal.
Last night at 11 PM, the big and small coins surged, and BNB followed with a rally. As a result, this morning, other coins pulled back moderately, but BNB plummeted back to where it started—almost completely giving back last night’s gains and falling back into the previous trading range. It was doing well breaking out, but in one night, it returned to square one. This trend is indeed a bit disgusting.
Why is BNB's pullback so severe? The technical aspect is one reason, but I believe the more critical factor is the news that caused the sell-off—He Yi's WeChat account was hacked!
Although it seems like a “WeChat hack,” a Web2 issue that has nothing to do with BNB itself, how will retail investors perceive it? "If even a co-founder's social media account can be hacked, is this platform safe?" Once such doubts arise, emotions can easily collapse. Especially for those retail investors who are speculating in the short term and can’t hold on, seeing the news makes them run for cover; once selling pressure hits, the coin price naturally can’t hold.
So this massive drop, while a technical adjustment is just the surface, the real culprit is the shaken trust on the emotional front. The crypto market isn’t just about candlesticks; it’s also about human sentiment.
Tonight, the crucial Federal Reserve interest rate decision is coming. No matter what Powell says, the market will undoubtedly experience a storm of volatility. BNB has now returned to the trading range; the direction hasn’t completely turned bad, but it is indeed weaker.
What should retail investors do now?
Don’t rush to catch the bottom: emotions haven’t stabilized yet, so be careful of catching falling knives. Wait for tonight’s meeting to conclude, and then reassess the market direction.
Pay attention to these two positions: watch if it can re-establish itself above the upper edge of the trading range, and keep an eye on earlier support below. Until a breakout occurs, treat it as a consolidation.
Maintain a stable mindset: don’t let a news of an account hack scare you, but also don’t believe blindly. Keep a good position, and don’t act rashly without clear signals.
If you are unclear about the specific points to watch, you can follow Tianji, who provides 24-hour real-time reminders for friends who have followed me.
Are you ready for the interest rate cut tonight? There’s a spot in the chat room!
