- BNB reached $908.93 ATH, with the next key Fibonacci target set near $969.59.
- Negative Bitcoin correlation strengthens BNB’s independent momentum and rally potential.
- Institutional demand and auto-burn mechanisms reinforce liquidity and long-term supply reduction.
Binance Coin (BNB) has reached a new all-time high at $908.93 against Tether, recording steady upward momentum. Technical patterns indicate strong structure with no resistance above the current price. The next major Fibonacci extension level is near $969.59, signaling a potential continuation of the breakout trend supported by volume and liquidity.
BNB Price Extends Breakout Beyond Key Fibonacci Levels
According to analysis prepared by GandalfCrypto, BNB touched $908.93 before consolidating near $905, approaching the 1.618 Fibonacci extension at $969.59. The 1.272 Fibonacci extension at $801.46 acted as support during the latest upward move, confirming trend continuation.
The weekly chart shows consistent higher lows and highs, supported by moving averages across the 50, 100, and 200-week lines. These averages trend upward, strengthening the case for sustained momentum. Historical resistance levels near $620, $587, and $465 have now converted into support, leaving no clear resistance above the current record.
Volume has expanded in line with the breakout. According to data from CoinMarketCap, BNB’s daily trading volume stood at $2.4 billion despite a 16.99% decline compared to the prior session. Market capitalization reached $125.99 billion, with circulating supply steady at 139.18 million tokens.
Institutional Activity and Market Structure Support Outlook
According to an observation by CryptoQuant analyst Timo Oinonen, BNB has decoupled from Bitcoin, showing a negative correlation coefficient of -0.27. While Bitcoin fell in recent weeks, BNB gained over 10% in 30 days, strengthening its independent momentum.
Institutional activity has also increased. Franklin Templeton’s collaboration with Binance has positioned BNB as a bridge between traditional finance and blockchain. In addition, CEA Industries added $368 million in BNB to its treasury, reinforcing liquidity and tightening supply.
BNB’s auto-burn mechanism continues to reduce supply each quarter, adding a deflationary aspect to the token. Together with growing stablecoin reserves on Binance, sidelined liquidity is set to support future rallies. According to analysts, BNB may target $1,000 in the short term, with further projections extending toward $1,500 by the end of 2025.
