BNB Slips Below $750 as Broader Market Retreat Intensifies
BNB declined over 1% in the last 24 hours, briefly breaching the $750 support level before stabilizing, as a broader market sell-off weighed on crypto assets. The downturn followed Bitcoin’s drop to $112,800, which triggered $360 million in liquidations across the digital asset market, according to CoinGlass.
The retreat marks a sharp reversal from earlier gains. On the previous day, BNB had broken through key resistance at $759 and $761, lifted by strong buying activity and a 50% surge in volume. The rally was fueled by Binance’s release of a web version of its wallet and the expansion of bitcoin options access to all users.
Momentum was further bolstered by corporate interest. CEA Industries unveiled a $1.2 billion BNB-focused funding plan, while Liminatus Pharma and Windtree Therapeutics announced $500 million and $700 million commitments to the token, respectively. Nano Labs also disclosed the purchase of 128,000 BNB for its corporate treasury.
However, these gains proved short-lived. Heavy selling pressure pushed BNB down from its $769.70 high, with volumes exceeding 49,000 tokens during the decline. The swift reversal reflects renewed caution among traders as macroeconomic concerns continue to dampen risk appetite.
BNB remains vulnerable below $750, with near-term sentiment hinging on broader market stability and Bitcoin’s performance.
