BNB fell 11.6% before starting a significant recovery amid Trump tariff concerns
Binance Coin's wild price swings reflect growing uncertainty as regulatory changes and global economic policy reshape the cryptocurrency market.
Author AI Boost | Edited by Aoyon Ashraf Updated April 10, 2025, 5:57 PM Published April 10, 2025, 3:01 PM
What is important to know:
- BNB experienced wild swings, falling 11.6% from $589.78 to $521.16 before recovering to $585.61, demonstrating exceptional market volatility.
- President Trump's rapid imposition of massive import tariffs has had a significant impact on cryptocurrency markets, with the ratio of Bitcoin to traditional assets changing dramatically.
- VanEck has begun the process of creating a BNB ETF in the US, sparking renewed interest from investors despite Binance's ongoing regulatory hurdles.
The cryptocurrency market is going through turbulent times as geopolitical tensions and trade policies change investor sentiment. BNB’s recent price swings, including a 13.2% trading range, highlight the high volatility affecting digital assets.
According to technical analysis from CoinDesk Research, key support is at $540-$545 and resistance is at $565-$570, with trading volumes increasing significantly during both sell-offs and recoveries.
The imposition of new tariffs under the Trump administration has caused a chain reaction in financial markets. Bitcoin initially showed a negative correlation with stocks when trade war rhetoric emerged, but this relationship has changed as risk-off sentiment has intensified. According to Binance Research, “If macroeconomic conditions stabilize, new narratives emerge, or cryptocurrency reasserts its role as a long-term hedge, a recovery in growth could follow.”
Meanwhile, BNB Chain continues to develop its ecosystem, recently announcing 16 early-stage projects selected for Season 9 of its Most Valuable Builder Accelerator program. This initiative aims to support Web3 developers with the resources needed to successfully grow in the BNB Chain ecosystem, in line with its mission to attract the next billion Web3 users.
Key Points of Technical Analysis
- BNB experienced significant price fluctuations, falling 11.6% from $589.78 to $521.16 before recovering to $585.61.
- The overall trading range of $68.62 (13.2%) shows high volatility in recent sessions.
- Key support is established at $540-$545, while resistance is established at $565-$570.
- Volume analysis shows strong selling pressure during the initial decline, followed by significant accumulation during the recovery.
- The sales surge on April 9 saw volumes exceeding 199,000 units, indicating strong buyer interest.
- The formation of a bullish channel since April 7 suggests the possibility of a continuation of the upward trend.
- Over the last 100 minutes of trading, BNB has fallen 0.5% from $578.33 to $575.41.
- Around 11:03 a downward channel formed, with significant selling pressure increasing.
- The $575.00–$575.50 zone has proven itself to be a key support area and has been tested multiple times.
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