BNB tumbles 10% as CZ reacts in surprise to pardon – Here’s what it means for Binance
He denied any involvement with the first family, insisting that it just "happened one day."
Key Takeaways
Why is BNB dropping this week?
BNB is down nearly 10% after failing to recover above $1,000.
What’s happening in the derivatives market?
Open interest remains flat near $866M, showing that traders are cautious and not taking big leveraged positions in either direction.
Binance Coin [BNB] is sliding again. The coin is down almost 10% this week, and the Derivatives market is confirming the hesitation.
The timing is awkward too: Binance Co-Founder CZ publicly reacted to news of a presidential pardon with visible surprise, insisting he has no connection to the Trumps.
BNB momentum fades
BNB has dropped nearly 10% this week, and the technicals align with that slowdown.
On the daily chart, price failed to recover above the $1,000 zone, while volume remained muted. Traders appeared unwilling to chase dips.
RSI was near 41, which is bearish but not washed-out enough to indicate capitulation. Meanwhile, MACD remained deep in negative territory, so the downtrend was still dominant at press time.
Put simply, this is controlled weakness. But without a surge in demand, BNB risks drifting lower before seeing meaningful support.
Derivatives stay quiet
Open Interest has barely moved this week, holding near $866 million. The chart showed a flatline that is indicative of traders’ hesitation.
The Aggregated Funding Rates also moved close to 0.0005%, showing a lack of leverage pressure from either longs or shorts. There’s no big money betting aggressively in either direction.
Despite BNB’s price drop, Derivatives traders seem content to wait things out, keeping activity subdued and momentum weak at press time.
CZ speaks out during controversy
Adding to the current narrative around him, CZ addressed the buzz around his recent presidential pardon.
In an interview with Fox News, CZ said he was surprised by the decision and denied having any business or personal ties to Donald Trump or his family. He clarified that his legal team had filed a pardon request months ago and that he had no idea when it would be approved.
He insisted,
“There was no indication of how far it went along, etc. Then, it happened one day.”
The clarification came with the pressure on BNB. Traders are perhaps watching whether the controversy will spill over into Binance’s broader ecosystem.
