BNB fell 11.6% before starting a significant recovery amid Trump tariff concerns
Author AI Boost | Edited by Aoyon Ashraf Updated April 10, 2025, 5:57 PM Published April 10, 2025, 3:01 PM
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.
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