Holding Steady as Traders Watch U.S. Tariff Moves

BNB (BNB) moved in a narrow $5.73 band between $656.83 and $662.61 during the last 24-hour stretch, as traders navigated a mix of global macro developments and ongoing regulatory scrutiny tied to Binance, the exchange associated with the token.

Volatility in BNB clocked in at just 0.87%, reflecting a wider sense of caution across risk markets. The token’s price is essentially flat over the past 24 hours.

The low-key trading came as global investors reacted to fresh tariff measures announced by U.S. President Donald Trump, who sent letters to 14 countries, including major Asian trading partners such as Japan and South Korea, threatening higher import duties starting August 1.

While markets took the tariff headlines in stride compared to sharp moves earlier in the year, uncertainty about global trade relationships has tempered risk appetite across assets from equities to currencies.

In Asia, the yen weakened against other currencies after news of the 25% tariffs, while Japan’s Nikkei index managed a modest gain. European shares hovered near flat, as the region awaited potential progress on a U.S.-EU trade deal.

Meanwhile, Wall Street futures are steady, with Goldman Sachs raising its forecast for the S&P 500 on expectations of interest-rate cuts and resilient large-cap earnings.

BNB saw notable buying interest around the $657 to $659 level, according to CoinDesk Research’s technical analysis model, with trading volumes briefly surging above the average of 29,147 BNB during selling pressure.

Despite dips, prices held firm as traders absorbed available supply. At one point in the session, BNB breached its resistance around $661, in a move accompanied by rising volume. This marked the first sustained push beyond levels that had capped the token’s price during recent consolidation.

The broader cryptocurrency market is slowly moving up. The CoinDesk 20 (CD20) index rose around 0.5% over the last 24 hours, showing resilience.

While hopes of trade deals are lifting sentiment in some global markets, crypto traders remain focused on both regulatory developments and macroeconomic signals, balancing potential upside with the risk of sudden policy shifts that could ripple across markets.

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.