Binance Coin Drops 3.91% Amid Trade Tensions

Binance Coin (BNB) experienced a significant drop of nearly 4% over the past 24 hours, driven by escalating global trade tensions and broader market volatility. This decline overshadowed positive regulatory news, as the token's value fell from $672.53 to a low of $646.27. The selling pressure intensified during high-volume trading hours, as traders reacted to macroeconomic developments.

President Trump’s announcement of new tariffs on Canada and Mexico reignited fears of a trade war, sending shockwaves across financial markets. The crypto market was not immune to these developments, with BNB underperforming despite the Securities and Exchange Commission’s voluntary dismissal of its lawsuit against Binance and its founder Changpeng Zhao. The case, which had alleged that Binance facilitated trading of unregistered securities, had been a significant overhang for the exchange for nearly two years.

Technically, BNB established a high-volume resistance zone around $669.68 after repeated failures to sustain bullish momentum. A second wave of selling hit during the midnight hour, with volume spiking to 81,409 units as prices broke below the $650 support level. Although BNB has managed a modest recovery from its cycle lows, forming potential support between $646-$648, the overall trend remains bearish with lower highs and lower lows.

BNB fell from $672.53 to $646.27, a 3.91% decline over the 24-hour period. The most dramatic selling occurred at 16:00 with volume spiking to 100,471 units, establishing key resistance at $669.68. Additional selling pressure hit at midnight, with volume reaching 81,409 units as prices fell below $650. A modest support zone formed between $646-$648, though the broader trend remains bearish. The hourly chart shows higher lows forming an ascending support trendline, suggesting a short-term bullish attempt that could stall further downside.

As global trade tensions weigh on risk assets, BNB’s resilience will be tested as traders weigh regulatory clarity against macroeconomic headwinds. The broader economic climate, marked by trade disputes and geopolitical risks, continues to weigh heavily on the cryptocurrency market, leading to significant price fluctuations. This event underscores the sensitivity of digital assets to global economic conditions and the importance of geopolitical stability in maintaining market confidence.