BNB Slips Toward $850 as Market Pullback Weighs on Token
BNB is currently trading around $850, down about 1.5% in the last 24 hours, with a session low near $849. This decline follows a broader market pullback, as Bitcoin dropped to about $87,000 on Tuesday. The wider CoinDesk 20 index also fell about 2.5% over the same period.
Traders expect BNB to consolidate between $850 and $870; a break above this range could target $900 later in the year. The token's price is down from a recent high near $870, after a surge above $860 on strong volume prior to selling pressure. CoinDesk Research notes that volume spikes indicate defensive positioning rather than fresh risk-taking.
Regarding adoption growth, Kalshi has added deposits and withdrawals for BNB and stablecoins on the BNB Chain. However, a break below $820 would imply deeper losses for BNB moving forward.
