Binance has returned to the middle of market consideration following the October 10 crash, an occasion that marked one of the crucial violent deleveraging episodes of the present cycle. On that day, a pointy wave of liquidations swept via derivatives markets, erasing billions in open curiosity and exposing the extent of extreme leverage throughout a number of exchanges.
Binance stood out in the course of the turmoil not as a result of it drove the sell-off, however as a result of its liquidation footprint was noticeably smaller relative to its market share, highlighting variations in leverage focus and danger administration in contrast with rival platforms.
Quick ahead to at present, and the broader market backdrop stays fragile. Bitcoin is buying and selling under the $80,000 stage, whereas Ethereum has slipped under $2,300, reinforcing the notion that the market has entered a corrective, if not outright bearish, part. Macro uncertainty, shrinking liquidity, and weakening spot demand have led many analysts to anticipate additional draw back earlier than any lasting stabilization can happen.
Towards this backdrop, new data from Arkham has added an sudden 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 Below Scrutiny because the Market Searches for Course
Many analysts have been fast to level fingers at Binance and its founder, Changpeng Zhao, following the most recent wave of market weak spot. The criticism largely stems from Binance’s dominant place in world derivatives buying and selling, its deep liquidity swimming pools, and its outsized affect on funding charges, open curiosity, and liquidation dynamics.
In intervals of stress, any sharp transfer originating on Binance tends to ripple throughout the whole crypto ecosystem, reinforcing the notion that the alternate acts as a central transmission level for volatility.
Nevertheless, regardless of the depth of those claims, there may be at the moment no concrete on-chain or market proof displaying that the alternate 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 cases, Binance recorded a smaller share of compelled liquidations relative to its market share. This weakens the argument that Binance was the first supply of systemic strain.
What seems extra seemingly 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 shall be crucial. How worth 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 part 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 stage. After failing to reclaim the 50-week shifting common (blue line), BTC has resumed its downward trajectory, confirming this zone as lively resistance relatively than non permanent consolidation. The rejection close to the mid-$90K space marked a decrease excessive relative to the 2025 peak, reinforcing a broader bearish development on greater timeframes.
Worth is now buying and selling under each the 50-week and 100-week shifting averages, whereas the 200-week shifting common (pink line) continues to rise nicely under present ranges. This configuration traditionally alerts a transition part, the place momentum has turned damaging however long-term structural assist has not but been examined. The current breakdown in the direction of 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 strain has elevated on down weeks, whereas rebound makes an attempt have been accompanied by weaker quantity, suggesting restricted conviction from patrons. This sample aligns with distribution relatively than accumulation.
Except 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 getting into a corrective or early bear part, with additional draw back danger in the direction of deeper demand zones nonetheless unresolved.
Featured picture from ChatGPT, chart from TradingView.com
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