BNB Hits $883 ATH – Can It Break $1K Despite THIS Hurdle?

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Key Takeaways

Lo and behold! BNB has smashed a new ATH, and the bulls are reassembling for what may be a glorious march above $900. With an eye-popping $2 billion influx in August, is the $1K mark about to be conquered next?

It appears that Binance Coin [BNB] has taken a delightful victory lap, printing a new all-time high (ATH) of $883 after a heroic relief rally on the 20th of August. Quite the spectacle!

The altcoin managed a 5.45% surge to $881 on the day, briefly flirting with $883 before showing signs of a subtle pullback. At this very moment, the coin is comfortably nestled at $850.

The burning question now: Can BNB break through the $900 barrier and storm its way to the psychological milestone of $1,000? A mere trifle, no doubt! 😏

Crypto Treasury Demand Woes, But Skew Remains Bullish

Bitcoin [BTC] and Ethereum [ETH] have been basking in the glory of crypto treasury demand, while Solana [SOL] has joined the trend. But alas, poor BNB may encounter a temporary setback!

Windtree Therapeutics recently announced a $500 million plan to establish a BNB treasury. But wait-Nasdaq has issued a notice to delist Windtree’s stock due to some pesky non-compliance. Well, isn’t that just the best timing? 😒

So far, Windtree has been quiet on how this delisting might affect their BNB treasury plans. After all, they’re the first company to take such a bold step. That being said, this uncertainty could put a little damper on demand, at least for now. 🍂

However, fear not! Market sentiment around BNB is still as bullish as a rodeo on caffeine. A sharp increase in Delta Skew for 1-week and 1-day tenors signals that traders are eagerly buying short-dated call options. In short, everyone’s placing their bets on an upward swing. 💸

Moreover, over $2 billion flowed into the BNB market in August. Realized Cap surged from $88 billion to a jaw-dropping $90.4 billion in just three weeks-proof that investors are all-in on the altcoin. 🍾

Taking a broader look at the price charts, we can see that the immediate hurdle is the multi-year trendline resistance from 2021. But fear not, dear investor! The 2.618 Fib extension level aligns nicely with the $1K mark, which means that breaking $900 could propel the bulls to that magical $1,000 target. 🚀

Interestingly, the Options market has also expressed the same optimistic outlook. In the past 24 hours, call buying (a.k.a. bullish bets) has been concentrated around the $900 and $920 levels.

Meanwhile, put buyers (the bears) have been aiming for $820. In other words, option traders are betting on a quick rebound at $820, with the possibility of reaching a new ATH above $900. It’s like a game of poker, but with more charts and fewer chips. 🃏

So, there you have it: $1K is still on the table for BNB. But the bulls are feeling a bit jittery, hoping to break through that pesky $900 barrier first before they go all-in on the $1K dream. Stay tuned, folks, it’s going to be a bumpy-but hopefully profitable-ride! 💥

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2025-08-22 05:15