BNB Slides 6% as Price Breaks Below Key $1,080 Support Level

BNB Chain’s native token, BNB, slid more than 6% in the past 24 hours, falling from an intraday high of $1,088 to $1,020.

The sell-off pushed BNB through critical support at $1,080 and signaled mounting bearish pressure as technical patterns aligned with elevated trading volume, according to CoinDesk Research’s technical analysis data model.

The breakdown was accompanied by a spike in trading activity, with 24-hour volume hitting 3.01 million tokens, nearly double the average. This kind of volume surge often reflects large-scale repositioning, possibly from institutional players or algorithmic trading systems reacting to breached support levels.

BNB’s fall also follows a pattern of lower highs throughout the last 24 hours, showing weakness in each attempted rebound. Every rally toward the $1,070-$1,075 range was met with renewed selling.

The broader crypto market has been under pressure, and BNB’s move may reflect spillover effects from macro or sector-wide developments.

Still, some metrics show longer-term stability: YZi Labs, the family office of Binance co-founder Changpeng “CZ” Zhao, wrote in a report that 67% of BNB is now held by the public. CZ himself holds less than 1%, hinting at reduced concentration risk.

Unless BNB reclaims $1,080, momentum points toward the $1,000 mark as the next key psychological and technical support level.

Disclaimer: Parts of this article were generated with the assistance from 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.