Binance Coin eyes $600 level as whales shift from gold to BNB

Binance Coin (BNB) has been trading around $592 after losing the $600 support zone and staying below it for four consecutive days. The token gained 0.65% in the last 24 hours but remains under pressure.

On‑chain data shows a notable whale, linked to the TechnoRevenant wallet, sold 492 XAUT (Tether Gold) worth about $2.05 million and used the proceeds to purchase 3,457 BNB at an average price of $595. CryptoQuant metrics indicate elevated spot‑average order sizes for seven days and a buyer‑dominant Spot Taker CVD, suggesting continued accumulation by large investors. The RSI formed a bullish crossover at 44, still below the neutral 50, while spot netflow rose to $3.2 million, reflecting higher exchange deposits that could increase sell pressure.

Analysts note that if whale buying persists, BNB could reclaim the $600 barrier and target $633. Conversely, growing exchange inflows may push the price back toward the $560 support level.