Is BNB’s Rebound Too Good to Last?

Most major cryptocurrencies rebounded sharply after the weekend’s brutal sell-off, following President Donald Trump’s remarks to ease concerns over rising US–China trade tensions.

Among the standout performers is Binance’s native token, BNB (BNB), which has surged 60% from the ‘Trump Dump’ lows. Can BNB rise any further this rebound cycle? Let’s examine.

BNB Whales Are Buying The Dip

BNB fully recovered from the 35% crash it suffered over the crypto market’s weekend meltdown, eventually hitting another record high at around $1,360 on Oct. 13.

However, the rebound comes amid mounting allegations that Binance may be propping up the market after playing a key role in triggering the broader sell-off.

The crypto market saw more than $20 billion in liquidations over the weekend, a rout intensified by reported technical glitches on Binance that briefly drove several tokens, including Cosmos (ATOM) and IoTeX (IOTX), to near-zero prices.

They liquidate the whole market, then use your money to pump their own token. Binance never disappoints.

Pure cinema. $BNB pic.twitter.com/7DRrqKVX0a

— Alejandro₿TC (@Alejandro_XBT) October 12, 2025

The recovery, however, accompanies a rise in BNB’s open interest in the futures market, alongside positive funding rates that indicate most speculators still anticipate Binance’s coin to rise higher.

Onchain data shows that whales are driving this BNB upside.

For instance, the BNB supply held by the 1k-10k token cohort has jumped over the weekend, indicating that these whales bought the dip, anticipating further price gains.

A similar accumulation pattern was visible among entities holding over 100,000 BNB.

BNB Technical Data Hints At Overheated Signals

Still, from a technical standpoint, there are red flags.

For instance, on the daily chart, BNB is forming a clear bearish divergence between its rising prices and falling relative strength index (RSI), a sign of exhausting upside momentum.

Any further gains after today warrant immediate caution, as a result.

Should it happen, the BNB prices are staring at the odds of declining toward the 20-day exponential moving average (20-day EMA; the green wave) at around $1,150 in October.

This downside target coincides with the 0.236 Fibonacci retracement line.