While Bitcoin (BTC) Falls Below $70K, BNB Continues to Cling Above $600

While Bitcoin (BTC) fell below $ 70,000 with a 2% decrease in the last 24 hours, BNB continues to cling above $ 600, up around 5%. Although BNB fell back after hitting the highest level in the last 2 years, reaching $645 on March 16, it seems to have enough energy to set new local peaks.

Bitcoin (BTC) 2-Hour Chart

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Bitcoin (BTC) is currently trading at $69,489. Increasing selling pressure above $70K pushed Bitcoin below $70K, and Bitcoin lost approximately 2% today. Bitcoin price rally has been exponentially in the first quarter but is now showing signs of exhaustion. If buyers do not take the initiative back, Bitcoin may decline to $68,000, but if buyers take the initiative again, Bitcoin may recover quickly and jump up to $72,000.

BNB 2-Hour Chart

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BNB is currently trading at $612. BNB currently appears to have increased by approximately 5% in the last 24 hours. Although BNB has retreated after reaching its highest level in the last 2 years, reaching $645 on March 16, it signals that it has enough energy to set new local peaks. If BNB continues to stay above $610, it could soon retest the $645 resistance, while a break of the $645 resistance could lead to a test of the $700 area.

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The tokens listed in the launchpool on the Binance exchange have a very positive impact on the BNB price, and in 6 hours and 23 minutes, a Synthetic dollar protocol Ethena (ENA) farming will start on the launchpool.

Investors will be able to farm and earn Ethena (ENA) by staking FDUSD and BNB, and farming will last for 3 days and the total reward is 300,000,000. 80% of the total rewards are allocated for the BNB pool, while 20% are allocated for the FDUSD pool.

I remain optimistic about Bitcoin and BNB, and although selling pressures push Bitcoin below $70K, I think Bitcoin will move higher in the long term, and BNB signals that it has enough energy to follow Bitcoin's rise more strongly.

Posted Using InLeo Alpha