BounceBit Approaches a Pivotal Point — Will It Hold or Break?
BounceBit ($BB) is teetering on a key support level, currently trading near $0.0975—down around 10% in the last 24 hours. With a market cap of $66–67 million and 685 million tokens in circulation (about 32.6% of the total supply), the asset is facing mounting pressure.
📉 Bearish Indicators: Technicals suggest weakness, with 88% bearish sentiment on CoinCodex. The 50-day SMA is near $0.094, while the 200-day sits higher at $0.146, forming a tightening wedge below resistance at $0.12–0.13. Trading platforms like TradingView label the current trend as “Neutral to Sell.”
📊 Active Markets Despite Pullback: On-chain volume remains strong at $12–22M daily, showing traders are still engaged. The volume-to-market-cap ratio hints at brewing volatility.
🔐 Fundamental Backdrop: While 70% of BB remains locked, future unlocks could add short-term pressure. Yet, BounceBit still secures over $560M in total value across its CeDeFi network, a sign of underlying strength.
🧐 Bottom Line: This moment could define the next move. If support at $0.095 holds, a run to $0.12–0.13 is within reach. But a breakdown may send price sliding to $0.075–0.080. Keep an eye out.
Not financial advice.
