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BNB Slides 2.7% as Crypto Market Weakens, Technicals Dominate Trading
BNB fell 2.7% to $1,105 over the past 24 hours, extending its decline as traders focused on technical signals amid a broader market retreat.
The pullback followed BNB Chain’s $1.6 billion token burn, which removed 1.44 million BNB from circulation, reducing total supply to about 137.7 million. While the deflationary move initially lifted prices, momentum faded as selling intensified across the crypto market.
The CoinDesk 20 Index (CD20) dropped 1.8%, reflecting widespread weakness. Once $1,128 support broke, trading volume spiked to 308,000 BNB in an hour, triple the daily average, pushing prices to an intraday low of $1,076.
Repeated failures to reclaim $1,110 confirmed short-term bearish momentum. Unless buyers regain control above $1,128, analysts say $1,076 remains the key level to watch for potential stabilization.
