BNB briefly topped $868 but trailed the market as scrutiny of Binance intensifies
BNB climbed just over 1.7% in the past 24 hours, trailing a broader cryptocurrency rebound that lifted the CoinDesk 20 (CD20) index by 2.2% over the same period. The token pierced a recent resistance zone around $860, spiking to about $868 before pulling back modestly.
The token’s relative weakness comes as regulatory and media pressure mounts on Binance. The Financial Times published an investigation alleging the exchange “failed to stop hundreds of millions of dollars of cryptocurrency from flowing through suspicious accounts,” even after it agreed to pay $4.3 billion to resolve a U.S. criminal case. That scrutiny appears to have capped BNB’s upside compared with the broader market.
On-chain and trading metrics show a pronounced market reaction. CoinDesk Research’s technical analysis model recorded a 192% jump in trading volume versus the daily average, with several volume peaks as the price tested support levels. Three distinct surges in volume confirmed momentum behind the move and helped to establish a new support band around $856–$858.
Short-term technicals were mixed but showed bullish intent. An hourly chart revealed a V-shaped recovery after an early dip to $851, with buyers aggressively pushing prices back above $863. From that rebound, an ascending triangle developed between roughly $864.00 and $865.80 — a pattern commonly interpreted as leaning toward a bullish continuation if a breakout follows.
Despite the intraday strength, BNB still sits about 32% below its all-time high of $1,360. Other exchange tokens have held up better: CryptoQuant data show KCS and LEO are down far less from their respective peaks, reflecting greater resilience among some exchange-linked coins amid the latest headlines.
Disclaimer: Parts of this article were generated with the assistance of 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.
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