- BNB hits a new all-time high of $963, with traders eyeing the key $1,000 resistance level.
- Binance founder CZ sparks speculation after changing his X bio from “ex-@binance” to “@binance.”
- Binance negotiates with DOJ to ease compliance oversight tied to its $4.3B settlement.
Binance Coin (BNB) has surged to a new all-time high, bringing renewed attention to the crypto market. Traders and investors are watching closely as the token nears the critical $1,000 mark, with many seeing this as the next major milestone. The rally comes at a time of rising institutional interest, ongoing negotiations with regulators, and the bio change in CZ’s X profile.
BNB Surges Toward Key $1,000 Level
BNB touched $963 on Wednesday, posting its strongest daily close ever. The token has gained nearly 8% over the past seven days and now trades near $956. Analysts say momentum remains firmly bullish.
The chart indicates an evident uptrend with multiple breaks of structure, confirming the continuation of the bullish movement. Market analysts point key support zone at $920, which recently flipped from a resistance zone. If it holds teh level, it could gain momentum toward the $1,000 barrier.
Source: Tradingview
Indicators also signal strength, with MACD maintaining a positive stance, holding the line above the signal, and expanding the histogram. The Relative Strength Index (RSI) sits at 68, still below overbought territory, suggesting further room for growth. Rising histogram bars point to increasing buying activity and a stronger rally.
On the derivatives side, BNB has future open interest of $1.72 billion, which is near a record high. Increasing open interest is an indication of fresh new capital flowing into the market, adding weight to the existing bullish push.
Still, risks remain if $920 fails, following which there would be a pullback to $880, but the market sentiment is positive. Traders view $1,000 as a psychological mark, with further upside if momentum continues.
Regulatory Developments and CZ Speculation
On the other hand, market observers pointed out that talks with the U.S. Department of Justice over compliance requirements, tied to its $4.3 billion settlement, could also be a driving factor for the surge. Bloomberg reported the exchange is seeking to eliminate the mandate for an external compliance monitor, which regulators imposed in 2023. Sources said prosecutors are considering adjustments as they reduce monitors across industries.
A positive resolution would soften regulatory pressure on Binance, improving operational flexibility. The development has fueled speculation that BNB may benefit from a regulatory breakthrough. At the same time, Binance founder Changpeng Zhao has reignited rumors of a possible return.
Zhao updated his X profile, changing the description from “ex-@binance” back to “@binance.” The move sparked immediate discussion across the crypto community. Zhao stepped down as CEO in late 2023 after Binance settled U.S. charges linked to anti-money laundering violations. His bio update comes almost two years after that exit, coinciding with reports of Binance’s regulatory talks.
Related: BNB Hits New Peak as CZ Pushes Banks to Embrace Crypto
Following the surge, trading volumes rose 37% to $3.31 billion within 24 hours of Zhao’s change. Futures open interest also climbed 10.5% to $1.83 billion, according to Coinglass. Analysts noted the combination of regulatory developments and Zhao’s action as contributing factors in BNB’s rally.
Market observers now view $1,000 as the short-term target, with stronger resistance expected near $1,200 to $1,500. Institutional appetite for exposure continues to grow. If institutional adoption accelerates, the coin may secure new highs beyond $1,000 in the months ahead. Analysts highlight the continuing transactions and ecosystem growth at Binance as possible drivers of further gains.
For now, traders are concerned with whether the momentum will drive the token beyond its current peak. The bullish trend remains intact, and support levels continue to attract buyers. With regulatory negotiations in motion and fresh speculation surrounding Zhao, Binance Coin sits at the center of market attention.
