BNB price makes strong recovery after weekend crash, CZ downplays market maker role

BNB price staged an impressive comeback on Monday, Oct. 13, rebounding 16% in the past 24 hours to trade around $1,309 at press time.

The recovery follows one of the market’s sharpest flash crashes in recent history, during which the total crypto market cap fell by more than $500 billion in a single day. Despite that drop, BNB has held up better than most top altcoins, now up 11% over the past week and 41% in the past month.

With confidence restored, trading activity has surged. BNB’s (BNB) 24-hour spot volume increased 50.2% to $8.94 billion. Similar momentum was seen in the derivatives markets. CoinGlass data shows that open interest increased 29.8% to $2.42 billion and futures volume rose 98.5% to $11.63 billion.

The jump in open interest alongside volume suggests traders are re-entering positions rather than simply exiting short-term bets, a bullish sign that the market is regaining confidence.

CZ addresses BNB price rebound amid speculation

As speculation swirled about potential intervention behind BNB’s rapid recovery, Binance founder Changpeng Zhao clarified on X that neither he nor any affiliated entities had participated in recent trading activity.

“Many projects have a market maker. BNB doesn’t,” CZ wrote. “I am not aware of any of my affiliated entities buying or selling BNB in the past days or weeks.”

He emphasized that BNB’s strength comes from its builders, community, and deflationary tokenomics rather than artificial support. CZ’s statement followed rumors that Binance might have stepped in to stabilize the market following the Oct. 10 crash, which erased nearly $19 billion in leveraged positions.

Analysts and traders praised BNB for its resilience in the wake of the incident, with one analyst calling it a “flight-to-safety” token. BNB’s decline was only about 10% before it quickly recovered, compared to other popular altcoins that saw drops of 15% to 50%. 

BNB price technical analysis

Following the weekend crash, BNB’s chart displays a strong V-shaped recovery, and the token is currently trading well above its mid-Bollinger Band support at $1,124. There is still potential for an upward push, as indicated by the relative strength index at 65, which shows increasing bullish momentum but not yet overbought conditions.

BNB may retest its upper Bollinger Band around $1,370, which also acts as immediate resistance, if buying pressure is sustained. Its wider uptrend, which started in late August, might continue if there is a breakout above this level, which would open the path toward $1,450–$1,500. 

On the downside, key support lies between $1,100 and $1,150, where bulls are likely to defend against another correction.