also met a similar fate. However, things were starting to change in the last 24 hours. In fact, if the latest data is to be believed, then altcoins might soon record a bull rally, one which could allow BNB to recover from its latest losses.highlighting an interesting development. As per the same, the market capitalization of altcoins is now moving inside a pattern on the charts.
On top of that, Coinglass’ data revealed that BNB’s long/short ratio noted a sharp decline. A low long/short ratio indicates a higher proportion of short positions relative to long positions in a trader’s portfolio. The aforementioned finding underlined the bears’ dominance, with a greater emphasis on selling or shorting assets.
If bears take over once again and push the coin’s price down, then investors might soon see BNB dropping to $571. However, if bulls manage to beat the bears, then there are chances of BNB hitting $613 in the coming weeks.Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space.
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