Benson Sun
Benson Sun|Jan 30, 2026 23:34
Binance's move to spend $1 billion to buy BTC, even though it's executed over 30 days, has limited direct impact on the market. But for those big sellers shorting the market, this sends a strong signal. This means Binance will remain in a net buying position for the next 30 days and won't be selling. Just releasing this signal to the market is enough to make some aggressive shorts back off. In fact, since Binance announced the news yesterday afternoon, BTC's open interest has dropped sharply from its peak. This indicates that the downward momentum is weakening, and shorts are closing their positions. The market is a dynamic game, and shorts can't be sure whether other major players (like Justin Sun or Tether) will follow Binance's lead. But the mere existence of this expectation is enough to make aggressive shorts choose to step back. Late at night, gold and silver plunged, but BTC rebounded from the bottom instead—this is a positive sign. Currently, BTC is approaching the Second Leg near the previous $80,000 level. Having this kind of confidence injected into the market is very important.
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