BNB price traded near $600 on Aug. 5 after breaking out of its July range, while rising derivatives activity and nearby liquidation clusters pointed to a possible test of $610.

BNB price reclaims $592 after July breakout

According to data from crypto.news, BNB (BNB) price rose to approximately $600 on Wednesday, extending its recovery from a late-July range around $560 to $575. The daily chart shows that the token closed near $599.64 after reaching an intraday high of $605.50.

The move carried BNB above its 20-day and 50-day simple moving averages at $574.43 and $576.85, respectively. Reclaiming both averages supports the short-term bullish structure, although the asset has not yet reversed its wider downtrend.

The 100-day SMA at $605.88 now represents the first major test. This level sits close to Wednesday’s intraday high and could determine whether BNB extends its rally toward $610 or enters another period of consolidation.

Longer-term resistance remains at the 200-day SMA near $636.13. BNB would need to reclaim that level before the daily chart confirms a broader bullish trend reversal.

Chaikin Money Flow rose to 0.14 on the daily chart. A reading above zero indicates that buying pressure has exceeded selling pressure during the measured period, adding support to the latest recovery.

Derivatives traders add exposure as volume jumps

BNB derivatives activity strengthened alongside the spot-price increase. CoinGlass data provided for the analysis showed that trading volume climbed 56.1% to $719.9 million, while open interest increased 4.05% to $985.79 million.

Rising price and open interest can indicate that traders are opening new positions rather than closing existing contracts. However, the data alone does not establish whether the new exposure is primarily long or short.

The increase also raises the possibility of stronger volatility around the $600 barrier. Leveraged positions may face forced closures if BNB moves sharply through nearby liquidation zones.

Broader crypto-market conditions offered additional support. Bitcoin approached $64,000, while the total digital asset market capitalization reportedly rose 0.72% to $2.19 trillion.

European regulatory developments also improved the wider institutional backdrop. The latest MiCA register update added more authorized crypto-asset service providers, although the development does not provide a direct fundamental catalyst for BNB or Binance.

BNB price faces resistance between $602 and $606

The 4-hour chart places BNB near the upper Bollinger Band after its latest advance. The upper band stands at $602, while the middle band has risen to $591.92.

Price briefly moved above the upper band before slipping back toward $599.50. That rejection shows that sellers remain active around $602 to $605.88, where the 4-hour Bollinger Band and daily 100-day SMA converge.

The 4-hour Relative Strength Index stood at 63.74, above its signal average at 61.04. Momentum remains bullish, but the reading is approaching the 70 threshold commonly associated with overbought conditions.

A 4-hour close above $605.88 could open the way toward $610. The next upside area sits between $612 and $616, where the three-day liquidation heatmap shows two of the strongest overhead liquidity concentrations.

Failure to break the resistance zone would place initial support at $592, followed by the 4-hour middle Bollinger Band near $591.92. A deeper retracement could target the lower band at $581.84.

Liquidation heatmap puts $612 and $592 in focus

The three-day CoinGlass liquidation heatmap shows liquidity concentrated on both sides of the current price. Above BNB, prominent bands appear around $612 and $616, with additional leveraged positions extending toward $620.

These clusters can act as price magnets because a move into them may force short sellers to close positions. A break above $606 could therefore accelerate toward $612 as short liquidations add market buying.

The closest major downside cluster sits near $592. Another band appears around $587, followed by larger concentrations near $581 and $576.

Losing $592 would weaken the recent breakout and raise the probability of a move toward $582. That area also aligns with the lower 4-hour Bollinger Band and the base of the latest advance.

The heatmap does not predict which liquidity zone BNB will reach first. It instead shows where leveraged positions may become vulnerable if price moves through those levels.

Analysts see $592 as the key trend level

Crypto commentator Satoshi Stacker described BNB’s retest of its former diagonal resistance as successful. He identified $592 as one of the asset’s most important levels of 2026 and said holding above it would support the view that BNB is entering an uptrend rather than posting a temporary recovery.

Another trader, Batman, pointed to BNB’s breakout from consolidation and its recovery above the 50-day moving average. The analyst said the subsequent retest preserved the bullish setup.

The charts support a constructive short-term outlook while BNB remains above $592. A confirmed break above $606 would bring $610, $612 and $616 into focus.

The bullish setup would weaken if BNB closes back below $592. In that case, $582 becomes the main downside level, with $576 providing the next support if selling pressure increases.

For US traders, MiCA developments mainly offer a comparison with Europe’s unified licensing framework. BNB’s short-term direction remains more closely tied to overall crypto liquidity, Binance-related developments and technical positioning than to European licensing updates.

Coinbase will suspend six cryptocurrency trading pairs on Aug. 6 after moving five markets into limit-only mode as part of its routine market review.

Coinbase places five markets in limit-only mode

Coinbase Markets said trading will end for LSETH-ETH, MINA-EUR, GRT-GBP, MASK-GBP, CHZ-USDT and CRO-USDT on Aug. 6, 2026.

Ahead of the suspension, the exchange placed MINA-EUR, GRT-GBP, MASK-GBP, CHZ-USDT and CRO-USDT into limit-only mode on Coinbase Exchange and Coinbase Advanced. LSETH-ETH was not included in the limit-only notice.

Users can place and cancel limit orders during this phase, while existing orders may continue to match. However, Coinbase will no longer accept market orders for the affected pairs.

The exchange attributed the decision to its regular review of supported markets. Coinbase monitors factors such as liquidity, trading activity and order book conditions to determine whether individual markets continue to meet its standards.

The move affects specific trading pairs rather than representing a full removal of the six underlying cryptocurrencies. Customers may still have access to other supported markets involving the same assets, depending on their location and Coinbase’s regional availability rules.

Market review follows earlier Coinbase suspensions

Coinbase has previously restricted or suspended markets after reviewing trading conditions, regulatory requirements and changes involving individual crypto projects.

One recent case involved Function X after the project suspended its supported smart contract and migrated from the FX ERC-20 token to Pundi AI’s PUNDIAI token. Coinbase initially placed FX trading into limit-only mode before announcing its suspension.

Removing thinly traded pairs can help an exchange concentrate activity in markets with deeper order books. Low trading activity can lead to wider spreads and greater price slippage, particularly when users place larger orders.

Coinbase also expanded its asset lineup during the week. Bio Protocol, BankrCoin and Treehouse became available through Coinbase’s website and mobile applications. Eligible customers can buy, sell, send, receive, convert and store BIO, BNKR and TREE.

Availability remains subject to regional restrictions. The listings show that Coinbase’s market reviews can result in new additions even as the company removes individual pairs that no longer meet its requirements.

Coinbase prepares institutional accounts for Deribit

The trading-pair suspensions come as Coinbase reorganizes its international derivatives business following its acquisition of Deribit.

As crypto.news reported on Aug. 4, Coinbase plans to transfer institutional clients’ International Exchange accounts, balances and open positions to Deribit on Sept. 9. Trading is expected to pause for about 30 minutes during the transfer.

Institutions that do not want to participate must close their positions and International Exchange accounts by Aug. 28. Coinbase will treat accounts that remain open after the deadline as having accepted the revised terms and migration.

Coinbase completed its acquisition of Deribit in August 2025 after agreeing to pay approximately $2.9 billion. The transaction gave Coinbase control of a major crypto options venue and created a path for consolidating its international derivatives operations.

The migration affects institutional derivatives accounts and is separate from the Aug. 6 spot trading-pair suspensions.

Circle agreement and ARK purchase draw attention

Coinbase also confirmed that its commercial agreement with Circle will renew automatically after both companies met the required contractual conditions. The update removes some uncertainty surrounding the USDC revenue-sharing arrangement following Coinbase’s participation in the Open USD consortium.

Chief Financial Officer Alesia Haas said the existing agreement would continue despite questions about whether Coinbase’s work on a potential alternative stablecoin network could affect its Circle partnership.

The exchange reported second-quarter revenue of $1.22 billion, missing Wall Street’s $1.29 billion estimate. Revenue fell 14% from the previous quarter as crypto trading activity weakened across several markets.

Coinbase shares closed the latest session at $146.50, up 0.16%. ARK Innovation ETF purchased 38,761 Coinbase shares worth approximately $5.68 million during the period.

The purchase followed ARK Invest’s acquisition of about $9.4 million in combined Coinbase and Circle shares on Aug. 3, as the U.S. Senate considered its next steps on the CLARITY Act. The buying shows continued institutional interest in the two companies despite weaker trading revenue and uncertainty surrounding U.S. crypto market legislation.

Senator Cynthia Lummis is pressing the Senate to vote on the CLARITY Act before its August recess as bipartisan negotiations continue over several unresolved provisions.

Lummis says CLARITY Act talks continue daily

Lummis said Senate negotiators were still working toward an agreement after nearly 11 months of talks. During a Fox Business interview, the Wyoming Republican argued that lawmakers should consider the crypto market structure bill before leaving Washington.

The senator said Majority Leader John Thune had reserved time for the legislation on the Senate agenda for several weeks. However, her comments reflected her expectation about the bill’s path rather than confirmation of a scheduled procedural vote.

Lummis also said she had worked on provisions overseen by the Commodity Futures Trading Commission as negotiators tried to resolve differences between Republicans and Democrats.

“I am continuing to work with Democrats every day on the Clarity Act.”

She urged lawmakers to establish clear rules and prevent digital-asset companies from moving their operations outside the United States. In a separate Fox Business appearance, Lummis warned that regulatory uncertainty could push more crypto activity toward jurisdictions such as Switzerland and Singapore.

Ethics and CFTC provisions remain unresolved

Negotiations continue around ethics restrictions, illicit-finance safeguards, stablecoin rewards and the division of regulatory authority between the CFTC and the Securities and Exchange Commission.

Democrats have sought stronger restrictions preventing senior government officials from profiting from crypto ventures. They have also raised questions about who would enforce those restrictions and whether the bill provides sufficient anti-money-laundering protections.

The latest Senate proposal would place exchanges, brokers and dealers under Bank Secrecy Act requirements. It would also restrict passive stablecoin rewards while allowing incentives connected to transactions, according to a summary of the Senate bill.

Lummis said the package includes an ethics agreement covering the president, vice president, members of Congress and the federal judiciary. Still, Democrats have not publicly committed enough votes to guarantee that the legislation can advance.

Republicans hold 53 Senate seats, meaning the bill would likely require support from at least seven Democrats if every Republican votes for cloture.

Hagerty calls for a Senate floor vote

Senator Bill Hagerty has also urged Senate leaders to bring the CLARITY Act to the floor rather than extend negotiations indefinitely.

“We have to pass the CLARITY Act,” Hagerty said. “I think we should put it through a vote on the floor of the United States Senate and find out where Democrats stand.”

The pressure follows months of shifting expectations over the bill’s timing. The House passed the CLARITY Act in July 2025 by a 294–134 vote, including support from 78 Democrats. The Senate Banking Committee advanced its version in May 2026 with two Democratic votes, although those committee votes did not guarantee support on the floor. Senators Ruben Gallego and Angela Alsobrooks said negotiations remained fluid after the markup.

No cloture filing confirms a CLARITY Act vote

Despite lawmakers’ public calls for action, an official cloture filing remained the key procedural signal needed to confirm that a vote was approaching.

Senate records showed that Thune had filed cloture on other business, including a continuing-resolution vehicle. The Senate Daily Press also recorded Lummis speaking in support of H.R. 3633 but did not list a CLARITY Act cloture filing.

Without that step, claims of an imminent vote remain expectations rather than a confirmed floor schedule. Continued negotiations could still produce an agreement, but the shrinking calendar increases the risk that consideration slips beyond the August recess.

Large cryptocurrency holders are accumulating Bitcoin (BTC) and Ether (ETH) as valuations approach levels associated with the final stage of a bear market, according to CryptoQuant.

Rising whale balances during price weakness can reduce available supply and concentrate ownership among larger holders, the blockchain analytics company said in its latest Smart Money report seen by Cointelegraph.

Bitcoin whale holdings, excluding exchanges and mining pools, rose to about 3.06 million BTC from 2.87 million BTC in December 2025, with accumulation accelerating after Bitcoin dropped below $60,000 in June.

Source: CryptoQuant

Ethereum wallets holding 10,000 to 100,000 ETH collectively held a record 19.6 million ETH, while wallets holding more than 100,000 ETH added roughly 1.8 million ETH since mid-2025.

In XRP markets, average spot order sizes remained in CryptoQuant’s “big whale” category as the token traded between $1 and $1.20. However, neutral 90-day taker cumulative volume delta suggested passive absorption rather than aggressive buying, the report said.

Related: Bitcoin may have bottomed before its traditional cycle low: Grayscale’s Pandl

Valuations point to late-stage bear market

CryptoQuant also pointed to realized price, an estimate of the market’s average onchain cost basis, as evidence that the market may be approaching a bottom.

Bitcoin traded at $63,935 at the time of writing, according to CoinGecko, above its realized price of $52,900. Ether traded at $1,858, below its realized price of about $2,450. XRP traded at roughly $1.10 compared with a realized price of about $0.75.

“Rising whale balances into price weakness is the clearest smart-money tell,” CryptoQuant said, adding that the accumulation pattern has historically preceded market bottoms while cautioning that the market remains exposed to further downside.

CryptoQuant’s analysis comes as other researchers have also identified potential bottoming indicators.

On Monday, 10x Research said Bitcoin could confirm a bear-market bottom with a monthly close above $63,000. K33 said in a July 7 report that Bitcoin has historically reached cycle lows within weeks after more than half of its circulating supply was held at a loss.

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