According to The Kobeissi Letter, BNB rose about 10% intraday and is now trading above the Oct 10, 4:00 PM ET high that preceded the recent crypto market liquidation, highlighting a decisive reclaim of a key reference level for momentum traders, source: The Kobeissi Letter on X, Oct 12, 2025. The author attributes the move to whale short positioning ahead of the liquidation and an apparent China–US misunderstanding; this characterization is the author's assessment and should be treated as commentary, source: The Kobeissi Letter on X, Oct 12, 2025. For trade structuring, the Oct 10, 4:00 PM ET high cited by the author serves as a clear pivot to monitor for confirmation and risk management given the stated reclaim, source: The Kobeissi Letter on X, Oct 12, 2025.