Binance coin ($BNB ) price has gained a bearish momentum after the $BTC flash crash on Thursday night. The slump in the biggest cryptocurrency has sucked the air out of most altcoins, sending them to their fresh 52-week lows. After a 6.07% drop on Thursday, the BNB appears to have entered into consolidation.
Many analysts were predicting a major correction in BNB price amid a lot of negative news. Binance coin is the native asset of the Binance Smart Chain, which was launched by the biggest digital asset exchange, Binance. The recent actions of the SEC and other global regulators have generated some strong headwinds for the L1 asset.
BNB Coin Shows Strength Compared To Bitcoin
A look at the following BNB/BTC reveals that Binance coin is holding up very nicely in terms of Bitcoin. This shows that the investors are preferring BNB over BTC, which is a sign of strength. After rising 1.4% on Thursday, the fourth-biggest cryptocurrency once again outperformed Bitcoin on Friday. However, in its USD pair, it still showed a minor loss.
