I recently reviewed the 1-hour chart of BNB/USDT. Combining on-chain data and the current market rhythm, I have some observations worth sharing.

**Technical Perspective**

From the chart, BNB shows a typical downtrend structure. The Bollinger Bands are opening downward, and the moving averages are arranged in a clear bearish pattern, indicating persistent selling pressure. More importantly, the MACD indicator is below the zero line, with the DIF reading at -10.32 slightly lower than DEA at -10.07. Although the green histogram is shrinking, the rebound strength is indeed insufficient, which suggests that the bearish momentum still dominates.

Key levels to watch on the technical side: the 880-890 USDT zone is an important support. If broken, the next level to watch is 870 USDT. On the upside, 925-935 USDT is a resistance zone. If a rebound reaches this area and cannot hold, the trend may continue downward.

**On-Chain Data Insights**

This part is more interesting. In the past 24 hours, large BNB addresses (holding over 100,000 tokens) have experienced a net reduction in holdings, around 3%. Meanwhile, BNB inflow into exchanges has surged by 15%. This signal is quite clear — players holding large amounts of BNB are offloading.

Holdings also saw a slight decrease, and the funding rate remains somewhat negative. The bullish sentiment is clearly subdued, while bears are accumulating positions. This aligns well with the technical signals.

**Market News and Sentiment**

On the macro front, the uncertainty surrounding Federal Reserve policies is intensifying, and the entire crypto market is seeking safe havens. This naturally puts pressure on major tokens like BNB.

Specifically for BNB, recent ecological developments have been relatively calm, with no particularly impactful positive news to counteract bearish sentiment. Instead, industry regulatory rumors are subtly emerging, further suppressing buying interest.

**Trading Strategy**

Considering signals from the technical, on-chain, and news perspectives, the short-term probability favors BNB moving sideways or downward. If you want to short, consider entering in batches around the resistance zone of 925-935 USDT, with a stop-loss above 945 USDT. The target is around 870 USDT.

Risk management should be prioritized: if BNB unexpectedly breaks above 950 USDT, it could indicate a trend reversal. At that point, stop-loss immediately — don’t wait. Markets can always surprise, and protecting your capital is always the top priority.