Binance Coin In Bear Market as Regulatory Hopes Fade and Market Sell-Off Deepens
Binance Coin has fallen sharply, remaining in bear market territory despite renewed optimism following Donald Trump’s pardon of Binance founder Changpeng Zhao. While institutional voices call BNB “undervalued,” the token’s decline highlights ongoing market stress, macro risks, and regulatory uncertainty weighing on crypto assets.
Binance Coin in bear market territory
Binance Coin (BNB) has entered a compelling chapter a few weeks ago as a dramatic external event and evolving institutional narratives shifted the spotlight back to the token. The headline-maker was the presidential pardon of Changpeng Zhao (“CZ”), founder of Binance.
On October 23, 2025, Donald Trump granted a full and unconditional pardon to Zhao, who had previously pleaded guilty in 2023 to anti-money-laundering violations and served four months in prison. This move was widely interpreted as a sign of renewed regulatory easing for Binance’s operations and by extension raised speculative hopes for BNB given the token’s close linkage to the Binance ecosystem.
Yet even as regulatory optimism surged, the past few weeks brought a harsh reminder of crypto’s volatility when BNB faced sharp pressure in a broader market sell-off.
Since Monday the token moved sharply lower, dragged down by a wave of liquidations triggered as risk sentiment turned: BNB was among the altcoins that registered steep losses as the market reacted to macro uncertainty and crypto derivate unwinding.
Adding nuance to the story, BNB’s institutional narrative remains intact despite the drop. Earlier this week, executives at the BNB Network Company described Binance Coin as “one of crypto’s most undervalued assets” with potential to benefit from clearer regulation and institutional adoption. This view reinforces the idea that underneath near-term turbulence, the token may be preparing for a stronger foundational run.
Taken together, these developments present a mixed but intriguing picture for BNB.
The pardon of Binance’s founder offers a structural tailwind that could reduce regulatory overhang, while institutional commentary provides narrative support.
At the same time, the recent price weakness underscores how sensitive the token is to broader market risk, especially when upside is tied to regulatory outcomes or speculative flows.
For Binance Coin to resume an upward leg, it may require a clean regulatory road ahead, renewed institutional inflows, and a market environment that supports risk assets. Without those, the token may simply oscillate within its bear market until clarity returns.
BNB bearish scenario:
BNB found support at $882.20, marginally below its 10 October low at $891.10 but despite Wednesday's bounce remains under pressure.
Failure at these lows would likely put the July-to-mid-August highs at $869.30-to-$861.20 as well as the 200-day simple moving average (SMA) at $817.50 on the map.
BNB bullish scenario:
Even if BNB were to bounce off the $891.10-to-$882.20 support zone, the area between the September high and mid-October low at $1,020.50-to-$1,087.30 is likely to act as resistance.
Only a rise above the October-to-November downtrend line and above the 30 October high at $1,129.80 would make a sustained bullish reversal more probable.
Binance daily candlestick chart
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