Binance Coin (BNB) Price Forecast: Changpeng Zhao reveals 99% BNB and BTC portfolio as bulls deploy $70M
- BNB price stabilized above $634 on Monday, down 6% since the Bybit hack sparked bearish sentiment toward centralized exchanges.
- Changpeng Zhao revealed his crypto investment portfolio, holding 98.48% in BNB and 1.32% in BTC.
- Bull traders maintain dominance in the derivatives markets, with $69.7 million in active long leverage positions over the past week.
Binance Coin (BNB) price stabilized above the $634 mark on Monday, down 6% since the Bybit hack sparked bearish sentiment toward centralized exchanges. A recent update from Binance ex-CEO Changpeng Zhao could trigger an early rebound.
Why is Binance Coin (BNB) price going down?
BNB price has remained on a downtrend since Friday, even as top altcoins like Ethereum (ETH), Hedera (HBAR) and Tron (TRX) posted notable recovery gains.
As seen below, BNB’s price has dropped 5% in the last 48 hours, falling from $679 on Saturday to a local bottom at $630 on Monday.
The Binance exchange's native token may be under pressure following the fallout from Bybit’s $1.4 billion exploit on Friday.
Initially, BNB’s price reacted positively, rising 3.3% to hit $679 after Binance and Bitget transferred over 50,000 ETH in emergency support funds to Bybit within hours of the attack, easing market panic.
However, on Sunday, the analytics platform Wu Blockchain detected the hacker making a series of suspicious transactions, laundering funds through memecoins minted on Solana's Pump.fun.
With the likelihood of full fund recovery diminishing it raises concerns about the impact of the hack on Binance’s reserves and bottom line.
Consequently, customers have continued shifting funds off centralized exchanges, including Binance.
This has reduced daily transactions, impacting BNB’s value accrual through staking and trading fee incentives.
Changpeng Zhao reveals 98% BNB portfolio, emphasizing support for Binance
BNB price rebounded slightly to reclaim the $635 level at press time on Monday, signaling active efforts to defend the $630 psychological support.
However, a recent post from Binance co-founder and former CEO Changpeng Zhao has also lifted market sentiment.
CZ posted his crypto investment portfolio on Binance Square, the exchange’s native social media platform. The post revealed that BNB accounts for 98.48% of its investment portfolio, with BTC making up 1.32%.
Changpeng Zhao’s Investment Portfolio, Feb 24, 2025 | Source: Binance Square
With nearly all his holdings in Binance’s native token, CZ’s post reinforces his support and long-term confidence in the Binance and BNB Chain ecosystem.
Amid market uncertainty, this could improve sentiment, ease selling pressure and encourage the BNB Chain community to hold their positions.
This aligns with last week’s reports showing that Binance had sold a large portion of its BTC, ETH, and SOL reserves from operational profits.
BNB price forecast: The rebound phase could hit $680 before facing significant resistance
Bullish signals from key stakeholders like CZ and the swift rebound from $630 on Monday suggest that BNB’s price is poised to attempt a rebound towards $680.
Supporting this view, bullish traders have maintained dominance in BNB’s derivatives markets despite the 5% price dip.
Coinglass’s liquidation map compares total active long vs. short positions, providing real-time insights into speculative traders’ expectations.
The chart shows that bullish traders have amassed $69.7 million in active long leverage positions over the past week, outpacing the $67 million in total short positions.
Binance Coin (BNB) Liquidation Map, Feb 24, 2025 | Coinglass
When long leverage positions remain higher than shorts during a spot market downtrend—as seen with BNB—it signals that most bullish traders are holding rather than capitulating.
In this scenario, traders holding the $69.7 million in BNB long positions may start making covering spot purchases to avoid cascading liquidations.
A closer look at the chart shows that over 50% of total active short positions, amounting to $31 million, are concentrated around the $680 price level, while support is weaker at lower levels.
Given this setup, BNB could stage a rapid breakout toward $680 if market sentiment turns positive and investor interest returns.
On the downside, bulls risk losing over $40 million if prices slip below $620. However, with over 70% of active long positions deployed above this level, bears could struggle to push prices lower unless additional negative catalysts emerge.
Author
Ibrahim Ajibade
FXStreet
Ibrahim Ajibade is an accomplished Crypto markets Reporter who began his career in commercial banking. He holds a BSc, Economics, from University of Ibadan.
