The recent pullback of BNB is quite interesting.

In the past 24 hours, bulls have had over 4.5 million dollars worth of positions liquidated. After such a concentrated liquidation, the market often becomes relatively clean – the leverage that needed to exit has exited, and the remaining chip distribution will be more stable.

On-chain data shows some intriguing signals: during the price decline, there has been continuous accumulation of chips. This counter-trend building behavior is usually not the habit of retail investors. More notably, currently, over half of the holding addresses are in a "silent" state, with no signs of selling, which indirectly reflects that long-term holders still have confidence in the future market.

From a technical perspective, the price is currently fluctuating around $825. If you want to make an investment, this position can be considered for a phased entry. If there is a subsequent pullback to the $810-$815 range, that may be a better opportunity to add to your position. Of course, risk control should not be forgotten: if it falls below $798, it indicates that the market structure may have changed, and timely stop-loss is necessary.

Short-term targets can focus on the two resistance levels of $855 and $888.

The market is always a game of emotions and funds. After a sharp decline, there often lies an opportunity for reallocation—provided you can see clearly who is taking action. Do not chase high prices or panic sell; just follow the logic.