Bitcoin News Today: BNB's Descent Below $860 Spotlights Crypto's Fragile Crossroads

BNB, the native token of Binance, fell below $860 on Friday, as traders and analysts awaited the release of U.S. jobs data, which is expected to provide clarity on the Federal Reserve's next steps regarding interest rates. The price decline follows broader market weakness in Bitcoin (BTC), which fell to a nearly month-low of $108,100, sparking fears of further downside to the psychological $100,000 level. Analysts have highlighted critical support levels for BNB, with the 20-day exponential moving average (EMA) at $844 and the 50-day simple moving average (SMA) at $794 being key indicators of the coin’s near-term direction. A rebound above $900 could signal sustained buyer control, potentially pushing the price toward $1,000.

The recent pullback has intensified bearish momentum, with technical indicators like the Relative Strength Index (RSI) showing negative divergence, suggesting weakening bullish momentum. Sellers have been pushing the price below key support levels, which could lead to further downward pressure. If the price breaks below the 20-day EMA, analysts expect BNB to test the 50-day SMA at $794. In contrast, a bounce off the 20-day EMA could indicate that buyers are regaining strength, potentially setting the stage for a rally toward the $900 level. The market remains cautious, with the BNB/USDT pair exhibiting a volatile environment marked by rapid shifts in sentiment.

The broader cryptocurrency market has been influenced by Bitcoin’s performance, as traders rebalance portfolios ahead of the U.S. jobs report. According to CoinGlass data, Bitcoin ETFs have seen $350 million in inflows since August 21, while Ether (ETH) ETFs have attracted $1.87 billion in the same period. This trend reflects a shift in capital from Bitcoin to other tokens, including altcoins like BNB, as investors seek potential upside in the face of macroeconomic uncertainty. Nansen analyst Nicolai Sondergaard noted that investors are rotating into altcoins to capitalize on potential rallies while Bitcoin consolidates.

The U.S. jobs data is anticipated to play a pivotal role in shaping market sentiment, particularly as it provides insights into inflationary pressures and employment trends. A stronger-than-expected report could delay rate cuts by the Federal Reserve, increasing the likelihood of a hawkish bias in monetary policy. Conversely, weaker data could signal a shift toward easing, potentially boosting risk appetite and lifting crypto prices. The upcoming data point is seen as a key trigger event, with traders closely monitoring its implications for the broader financial markets.

In the context of long-term price expectations, some analysts remain optimistic about BNB’s potential. A 2025 price forecast from Changelly suggested an average price of $1,088.89 by the end of the year, with bullish scenarios projecting a peak of $1,294.87. These predictions are based on BNB’s continued utility in transaction fees, token burns, and DeFi staking. However, BNB has increasingly been characterized as a “value stock” in the crypto space, offering steady growth but not the explosive returns associated with smaller-cap assets. In contrast, other high-growth opportunities, such as Layer Brett ($LBRETT), have drawn attention with their Ethereum Layer 2 infrastructure and presale performance nearing $2 million.

As the market braces for U.S. jobs data, the immediate focus remains on Bitcoin’s ability to stabilize above key support levels. If BTC fails to hold above $105,000, it could trigger a broader sell-off in altcoins, including BNB. Conversely, a rebound in Bitcoin could provide a tailwind for altcoins and potentially reverse the current downward trend. Traders are also monitoring Ethereum’s performance, which has broken below critical support levels and faces its own near-term risk of a deeper correction.

In summary, the crypto market is in a state of anticipation as it awaits the U.S. jobs report. BNB’s recent dip below $860 highlights the fragility of altcoin prices in the face of Bitcoin’s volatility and macroeconomic uncertainty. Analysts will be watching for signs of stabilization in BTC, as well as a potential rebound in BNB’s price action. The next few days could determine the immediate trajectory of the market, with key technical levels and macroeconomic data acting as critical decision points for traders and investors alike.

Source:

[1] Price Predictions 8/29: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK, HYPE, SUI (https://cointelegraph.com/news/price-predictions-8-29-btc-eth-xrp-bnb-sol-doge-ada-link-hype-sui)

[2] BNB (BNB) Price Prediction 2025 2026 2027 - 2030 (https://changelly.com/blog/binance-coin-bnb-price-prediction)

[3] BNB Price Prediction, Pi Network Update After Delistings (https://www.mitrade.com/insights/news/live-news/article-3-1083402-20250901)