BNB Price Drops Below $860 Amid Anticipation of U.S. Jobs Data
The price of BNB has experienced significant intraday volatility, dropping from an all-time high of $900. In the last 24 hours, it traded between $849.88 and $868.76, showing a 2% movement.
- Initial bullish momentum shifted to fatigue near resistance levels.
- Volatility follows recent SEC filings by REX Shares and the launch of B Strategy, which plans to hold up to $1 billion in BNB.
- Active wallet addresses on BNB Chain surged to nearly 2.5 million, despite declining transaction volumes since late June.
- Upcoming U.S. economic data, including jobs figures, could impact Federal Reserve interest rate decisions.
- CME's FedWatch tool indicates a 90% chance of a 25 basis point cut this month.
Technical Analysis Overview
- BNB opened at $860.30, peaking at $868.08 before facing selling pressure around $867–$868, establishing a key resistance level.
- Volume peaked at 72,000 tokens during the failed breakout attempt, exceeding the average of 54,000.
- After rejection, BNB retraced to the $850–$855 range, where buying interest was notable, especially at $851.40.