Did the $41M Bitcoin Theft Create a Buying Opportunity for Binance Coin (BNB)?

Binance Token (BNB) has taken a significant due to the Binance Bitcoin hack but is the recent pullback an opportunity for buyers? BNB Maybe a Steal as Binance Reels Since topping out at $25.49 Binance Token (BNB) 00 has pulled back by nearly 27% and the fallout from last week’s Tether – Bitfinex scandal along with Binance’s recent $41 million bitcoin theft are taking their toll on the exchange’s native token. Clearly, after a more than 500% rally, BNB was ripe for a bit of profit taking and a trend change but the current dump could be more connected to recent events and not a representation of BNB’s value from a technical standpoint. BNB-USDT Daily Chart As recently as May 2, BNB was consolidating between $25 to $21 and posting daily lower highs. It’s clear that altcoin was losing strength as it struggled to stay above the 12 EMA The…

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