Binance Coin (BNB) Experiences Sharp Decline Amidst Market Stress

Binance Coin (BNB) saw a notable drop, falling to $895 after a 3% decline over the past 24 hours. This marks an extension of the broader market downturn affecting large-cap cryptocurrencies. The move has led BNB to trade below the $900 psychological level and its market cap decreased by 3% today, despite increased trading volume of 59% to $3.7B. Technical analysis reveals a weakening trend in BNB price action, illustrated by declining highs and lows throughout the week, with resistance established at the $920-$930 range. This pressure has led to a sharp drop, bringing it to its lowest point since early November.