$BNB BNB Hits New All-time High as Institutional Demand Surges: The sharp move upward followed Nano Labs Ltd’s disclosure of a massive over-the-counter (OTC) purchase of 120,000 BNB, valued at $90 million. This buy was executed at an average price of $707 and signals growing strategic confidence in the Binance ecosystem.
The timing of the deal is notable—it comes just weeks after Binance completed over $1 billion in monthly token burns, shrinking BNB’s supply base and amplifying scarcity. Such large OTC deals typically absorb market liquidity without slippage, setting the stage for explosive moves once supply tightens and demand intensifies.
Technical Breakout Confirms Uptrend: BNB’s price action also triggered a significant technical breakout, pushing beyond the $650 resistance zone and setting up a strong bullish structure. On the momentum side, the Moving Average Convergence Divergence (MACD) indicator flashed its strongest bullish divergence since June, with the histogram climbing to +9.48.
The Relative Strength Index (RSI) surged to 86.7, indicating overbought conditions—but such readings often persist during parabolic runs. From a Fibonacci perspective, BNB breached the 127.2% extension level at $834, pointing to potential upside targets between $893 and $958 if momentum holds.
Volume indicators confirm the breakout’s strength. Derivatives open interest rose 19% to $1.23 billion, while perpetual funding rates remain positive at +0.0137%, showing that long positions are paying to stay in the trade—another sign of bullish conviction.
