Key facts
- Bitcoin Cash (BCH) fell 10.7%.
- Binance Coin (BNB) declined 3.4%.
- BNB price is near $594, having lost $627 support.
- Long liquidations accounted for over 96% of recent BNB liquidations.
- The CoinDesk 20 index was negatively affected by these declines.
The cryptocurrency market saw declines, with Bitcoin Cash (BCH) dropping 10.7% and impacting the CoinDesk 20 index. Binance Coin (BNB) also experienced weakness, falling 3.4% to near $594 after losing the $627 support level. This price action has raised questions about whether 2026 might present another significant dip for BNB. Technical indicators show weak momentum, with the RSI at 36.25 and the MACD below its signal line. Derivatives data indicates that long traders have dominated recent liquidations, accounting for over 96% of the $11.85 million in 24-hour liquidations. BNB needs to reclaim the $627 to $650 zone to ease selling pressure, with potential resistance levels at $776.50 and higher.