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By AI Boost
Apr 10, 2025, 3:01 p.m.
- BNB experienced dramatic price swings, plummeting 11.6% from $589.78 to $521.16 before recovering to $585.61, demonstrating exceptional market volatility.
- President Trump’s rapid implementation of wide-ranging import tariffs has significantly impacted cryptocurrency markets, with Bitcoin’s correlation to traditional assets shifting dramatically.
- VanEck has initiated the process for a BNB ETF in the U.S., sparking renewed investor interest despite ongoing regulatory challenges for Binance.
The cryptocurrency market is navigating turbulent waters as geopolitical tensions and trade policies reshape investor sentiment. BNB’s recent price action, featuring a 13.2% trading range, highlights the heightened volatility affecting digital assets.
Technical analysis reveals key support around $540-$545 and resistance at $565-$570, with trading volumes spiking during both selloffs and recovery phases, according to CoinDesk Research’s technical analysis data.
STORY CONTINUES BELOW
The implementation of new tariffs under President Trump’s administration has created a ripple effect across financial markets. Initially, bitcoin showed a negative correlation with equities as trade war rhetoric emerged, but this relationship shifted as risk-off sentiment took hold. According to Binance Research, “Should macro conditions stabilize, new narratives take hold, or crypto reassert its role as a long-term hedge – renewed growth could follow.”
Meanwhile, BNB Chain continues to expand 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 builders with resources needed to thrive within the BNB Chain ecosystem, aligning with its mission to onboard the next billion Web3 users.
- BNB experienced significant price turbulence, with an 11.6% drop from $589.78 to $521.16 before recovering to $585.61.
- The overall trading range of $68.62 (13.2%) demonstrates exceptional volatility in recent sessions.
- Key support established around $540-$545 with resistance at $565-$570.
- Volume analysis shows intense selling pressure during the initial decline, followed by substantial accumulation during recovery.
- April 9th surge featured volumes exceeding 199,000 units, indicating strong buying interest.
- The formation of a bullish channel since April 7th suggests potential continued upward momentum.
- In the last 100 minutes of trading, BNB declined 0.5% from $578.33 to $575.41.
- A descending channel formed with significant selling pressure emerging around 11:03.
- The $575.00-$575.50 zone has established itself as a critical support area with multiple tests.
Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable.
External References:
- Crypto Daily, “Solana Price Prediction in April: Binance Coin Latest News and Everything You Need to Know About Viral Altcoin Remittix,” published April 3, 2025.
- Coinotag News, “Is BNB Preparing for a Q2 Breakout Amid Strong On-Chain Metrics and Rising Demand?” published April 9, 2025.
- AMBCrypto, “Is BNB the Breakout Altcoin of Q2? Why Bitcoin Investors Think So!” published April 9, 2025.AMBCrypto+1AMBCrypto+1
- Crypto Daily, “Solana, Binance Coin (BNB) or Lightchain AI? Why Top Crypto Investors Are Picking Lightchain AI Over These Two Well-Known Assets,” published April 5, 2025.Crypto Daily
- BitcoinWorld, “Bitcoin Price: Sudden Plunge Shocks Crypto Market as BTC Dips After Touching $79,472 Amid Rising Volatility,” published April 8, 2025.Bitcoin World
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
