BNB Holds Above 1,060 Support as Traders Watch for Breakout Toward 1,140 Recovery

Key Insights:

• BNB remains stable near $1,060 as traders await a breakout toward the $1,140 resistance.
• Binance stablecoin reserves surge $12.6B, signaling traders’ cautious shift into stable assets.
• Following the liquidation, traders are increasingly favoring spot markets, as Binance’s daily BTC volumes reach $ 10 billion.

Binance Coin ($BNB) is holding above the $1,060 support level as traders monitor signs of a potential rebound. Market attention remains focused on whether the token can break above its near-term resistance zone and move toward recovery.

BNB Maintains Stability Near Key Support Zone

Crypto market analyst BlockchainBaller stated that $BNB is stabilizing around the $1,060 support zone after a recent decline. The analyst noted that buying interest has increased at this level, suggesting that a move toward the $1,140 area may be possible if the price breaks above $1,107–$1,120.

This zone is now viewed as a technical area of consolidation where traders are waiting for a clear signal. If $BNB closes above the resistance range, it could indicate renewed short-term momentum. However, the analyst emphasized that the move remains dependent on broader market strength and investor sentiment.

Rising Stablecoin Reserves on Binance and BNB Price

However, Binance stablecoin reserves increased from $32 billion to $44.60 billion over a two-month period. The increase of $12.6 billion shows that traders may be moving from volatile assets into stablecoins. According to Ali, investors are shifting from crypto to stablecoins, suggesting a more cautious approach.

The trend indicates that many market participants are choosing to preserve capital and reduce exposure to volatility while awaiting market direction. As of today, $BNB trades at $1,071.01 with a 24-hour trading volume of $4.04 billion, showing a slight 0.31% decline.

Shift Toward Spot Market After October 10 Liquidation Event

Following the significant liquidation event on October 10, many traders have shifted focus toward spot trading. The event led to extensive forced liquidations in leveraged positions across major exchanges, causing a wave of losses and increased caution among investors.

Binance has continued to dominate spot market activity, recording a cumulative of $180 trillion in BTC spot trading volume. Daily Bitcoin spot volumes have grown from $3–$5 billion in early September to $5–$10 billion since October 10. This rise reflects stronger participation in spot trading and a preference for lower-risk strategies.