BNBSmashes $1,000 ๐ โ Bulls Now Target $1,250
BNB pricing holds over $980 on Friday after hitting a record $1,006 the day before.
On-chain and derivatives statistics continue to rise as TVL and futures open interest hit historic highs.
Bulls are eyeing $1,200 based on technical indicators.
After reaching a new all-time high (ATH) at $1,006 on Friday, BNB (BNB) remains above $980. On-chain data and derivatives markets indicate ongoing bullish momentum, with BNB traders targeting $1,200 as the next big upside goal.
BNB achieves record high after FOMC dovishness.
BNB achieved a fresh all-time high of over $1,000 on Thursday after the FOMCslashed interest rates by 25 basis points (bps) late Wednesday, boosting cryptocurrency market risk appetite.
According to the latest dot plot, the Fed's dovish position predicts interest rates will average 3.6% by 2025, down from 3.9% in June. This and the probability of further cuts later this year have boosted risk-on sentiment and BNB prices.
Artemis Terminal data reveals BNB's Total Value Locked (TVL) rose to $7.74 billion on Sunday from $7.8 billion on Friday, the highest annual level. TVL rises as more users deposit or utilize assets in BNB-based protocols.
The derivatives market supports bullishness. CoinGlass records suggest that exchange BNB futures OI hit a record $1.98 billion on Friday. OI increases indicate fresh money entering the market and purchasing, which might accelerate the BNB price surge.
CoinGlass's BNB long-to-short ratio, 1.16, near its monthly high, is optimistic. The ratio over one indicates optimistic market sentiment since more traders are banking on asset price increases.
BNB Price Prediction: Next?
BNB hit a record high of $944.95 on Sunday but fell somewhat this week. BNB rallied almost 7% on Tuesday to hit a new all-time high of $1,006 on Thursday. As of Friday, it trades about $989.
BNBmight challenge the 141.4% Fibonacci extension level at $1,215.48 if it keeps rising.$BTC #BTC่ตฐๅฟๅๆ
