The intrinsic value (not exactly the price) of BNB coin is correlated to trading volume and CRYPTO market. Recently, the altcoin hype session has ended and have been suffering massive selling pressure.
What I am thinking is, if the majority of altcoins is dumped massively, this might imply we are (still) in a bear market and thus the trading volume will be signicficantly decreased after the dump because the price will be stagnant and remained at low level. The decreased frequency of trading activities in Binance exchange lead to the decrease in demand of BNB coin. People no longer frequently use BNB coin for trading or other activities in Binance.
Therefore, it seems to be so attractive to short BNB coin given that BNB/BTC hasn't decreased a lot at this moment.
What I am thinking is, if the majority of altcoins is dumped massively, this might imply we are (still) in a bear market and thus the trading volume will be signicficantly decreased after the dump because the price will be stagnant and remained at low level. The decreased frequency of trading activities in Binance exchange lead to the decrease in demand of BNB coin. People no longer frequently use BNB coin for trading or other activities in Binance.
Therefore, it seems to be so attractive to short BNB coin given that BNB/BTC hasn't decreased a lot at this moment.