BNB Drops Below $950 as Market Sell-Off Deepens, Privacy Coins See Surge

BNB's price declined by 7.8% to $940, breaking key support levels amid a significant sell-off exacerbated by heavy institutional trading. The coin, previously hovering around $1,020, saw a 72% rise in trading volume, indicating that large holders were offloading their positions. Analysts are monitoring whether BNB can maintain its value above $940, with technical resistance identified at $1,000 and $980. This market downturn is part of a broader cryptocurrency sell-off, leading to over $1.4 billion in liquidations, primarily affecting long positions. While most altcoins fell with Bitcoin, which dipped below $104,000, privacy-focused coins like DASH and Zcash emerged as outliers, with DASH gaining 56%. The market's volatility suggests careful observation is needed for BNB's potential recovery or further declines.

Source 🔗