Current price$BB — $0.139, which is 6.86% lower than a day ago. In the last 7 days, the price has increased by 15.03%, and over the last 30 days — by 25.22%. This means that the recent decline is a temporary deviation against the overall upward trend.
Next, let's pay attention to the situation in the global crypto market. The total market capitalization has decreased by 2% over the day, but the decline of BB is significantly stronger (-6.86% compared to -2%). This indicates that BounceBit is performing worse compared to the overall market.
Now let's look at the technical analysis and news. The minimum in the last 24 hours was $0.1075, and the current price is $0.139. The Relative Strength Index (RSI) is around 60, which does not indicate oversold conditions. The MACD histogram is positive but decreasing, which may indicate weakening upward momentum.
There is a lot of news about partnerships with Franklin Templeton and BlackRock, especially regarding the inclusion of their tokenized funds in BounceBit Prime. These are positive events; however, the price drop may be related to profit-taking after a recent rise. Over the past 7 days, the price has increased by 15%, and some investors may have decided to lock in profits.
There is also mention of a token buyback program. The protocol has repurchased 8.87 million BB, which should support the price. However, trading volume over the last 24 hours has decreased by 20.48% to $35 million. Lower volume may indicate reduced support and increased volatility.
Technical levels: the price is around the 50% Fibonacci retracement level at $0.13448. If the price drops below this, the next support is around $0.124. The community notes a key support level at $0.1075, and if this is broken, further decline is possible.
In conclusion: the price decline of BounceBit is likely related to profit-taking after a strong rise, as well as decreased trading volumes and technical resistances. The cooling RSI and slowing MACD confirm this. Additionally, the overall market decline adds further pressure, but the main reasons are internal factors of BB.$BB BounceBitPrime @BounceBit
