BNB Surges on Market-Wide Short Squeeze and Risk-On Rebound

BNB surged by 3.43% in a market-wide short squeeze that saw over $140M of shorts liquidated, pushing prices above $720.

The move was part of a broader risk-on rebound, with the total crypto market cap rising by about 5% to around $2.7T.

There were no major BNB-specific announcements or listings that could explain the jump, suggesting it was largely driven by beta and traders chasing a breakout.

The short squeeze saw BTC, ETH, XRP, and BNB all spike together, with hourly liquidations reaching $157M, of which roughly $142M were shorts.