BNB Slips Below Support as Broader Crypto Market Reacts to Fed Uncertainty

BNB's price fell 2% to $1,073 after failing to hold support at $1,095, driven by a broader selloff in the crypto market following the US Federal Reserve's 25 basis point rate cut and Chair Jerome Powell's cautious remarks. This has led to over $1.1 billion in liquidations within 24 hours, primarily affecting long positions. BNB faced intensified selling pressure after struggling to break resistance near $1,115, dropping to an intraday low of $1,081 before settling at $1,073. The overall market experienced a 4.7% decrease, indicating a significant reaction to central bank policies as traders prepare for a $13 billion options expiry. BNB now encounters short-term resistance around $1,087, and a recovery above $1,095 could help stabilize the downward trend. Failure to recover may see a retest of the $1,081 level in the near term.

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