BNB Breaks Key Support as Total Crypto Market Cap Approaches $3 Trillion

BNB Coin (BNB $854.44) dropped more than 3% in the past 24 hours, falling to $850 and breaking key support levels, wiping out earlier session gains. The decline appears technical in nature and was not linked to any negative news specific to BNB, coinciding with a broader selloff across the crypto market.

Earlier in the day, BNB attempted a breakout near $888, supported by rising lows and increased volume during overnight trading, according to CoinDesk Research’s technical analysis model. The token had been consolidating in a tight range between $885 and $888, suggesting potential bullish momentum.

The breakout, however, failed to hold as market activity thinned and broader pressure returned. Bitcoin and Ether saw 24-hour losses of 2.8% and 3.6%, respectively, dragging BNB lower.

Overall, the cryptocurrency market cap has approached $3 trillion, while 24-hour trading volume surged to $115.7 billion, according to CoinGecko.