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Binance Coin (BNB) faces growing bearish pressure, with technical and market indicators signaling a potential correction. Key points:

- BNB forms a rising wedge pattern on the weekly chart, often signaling bearish outcomes.
- Negative funding rates and increased social activity suggest a looming breakdown.
- Derivatives data shows mixed signals, with trading volume and options volume increasing, but negative funding rates dominating.
- The $609.6 support level is critical, and a breakdown could lead to an accelerated decline.
- Overall, the outlook remains bearish, and a deeper correction seems likely unless BNB can reclaim momentum.