BNB Faces Heavy Selling Pressure Amid Renewed Trade Tensions Despite Regulatory Wins
Binance Coin (BNB) experienced a nearly 4% drop over the past 24 hours, weighed down by escalating global trade conflicts that overshadowed recent positive regulatory developments.
The token declined from $672.53 to a low of $646.27, with accelerated selling volume during peak trading hours as market participants reacted to macroeconomic uncertainties.
Trade War Concerns Stir Market Instability
President Trump’s announcement of new tariffs targeting Canada and Mexico has reignited fears of a widening trade war, sending ripples through global financial markets. The crypto sector was not spared, as BNB underperformed despite the SEC voluntarily dismissing its long-standing lawsuit against Binance and founder Changpeng Zhao. The case, alleging Binance’s involvement in trading unregistered securities, had cast a shadow over the exchange for nearly two years.
BNB Chain Shows Robust Activity Despite Price Drop
On the network front, BNB Chain recorded a strong week with Binance Smart Chain (BSC) reaching 1.93 million daily active users, while opBNB surpassed 2 million. Weekly trading volume totaled $69.75 billion, and total value locked (TVL) stood firm at $10.5 billion. Notable project launches included DeFi platform UpTop, options trading protocol Volare Finance, and stablecoin payment solution WeApe by Wello. Additionally, the chain introduced an incentive program for real-world assets, rolled out an AI Bot, and launched the Maxwell Hardfork testnet to speed block times. The recent BNB AI Hack concluded with winners announced, while DappBay’s Featured Activities Series now offers over $60,000 in rewards.
Price Action and Technical Overview
Technically, BNB hit a strong resistance zone near $669.68, failing multiple times to sustain upward momentum. A second wave of selling emerged around midnight, pushing volume to 81,409 units and driving prices below the $650 support mark. Though BNB managed a modest bounce forming a support range between $646 and $648, the overall trend remains bearish with lower highs and lower lows dominating price action.
- BNB declined 3.91% from $672.53 to $646.27 in 24 hours.
- Peak selling volume of 100,471 units occurred at 16:00, reinforcing resistance at $669.68.
- Additional heavy selling hit at midnight with volume surging to 81,409 units as prices dipped below $650.
- A tentative support zone formed between $646 and $648, but the bearish trend prevails.
- The hourly chart reveals higher lows, suggesting a short-term support trendline that may curb further declines.
As global trade tensions continue to pressure risk assets, BNB’s ability to hold its ground will depend on how traders balance the newfound regulatory clarity against persistent macroeconomic headwinds.
