BNB Falls Below $870 Amid Market Concerns After Fed Meeting
BNB (formerly Binance Coin) is trading below $870 on Thursday. The decline comes as the crypto market reacts to the Federal Reserve’s cautious rate cut. Weak on-chain and futures data show a bearish trend for BNB. This may push the price lower in the coming days.
Federal Reserve’s Rate Cut Affects Crypto Prices
The crypto market dropped after the Federal Open Market Committee (FOMC) meeting on Wednesday. The Fed cut interest rates by 25 basis points to 3.50%-3.75%. However, it signaled a pause in rate cuts for January.
Policymakers expect only a small rate cut in 2026, unchanged from September’s outlook. This lowered hopes for quick rate cuts and pressured riskier assets. A weak earnings report from Oracle added to the negative mood. Major cryptocurrencies like Bitcoin, Ethereum, Ripple, Solana, and BNB all lost value on Thursday.
On-Chain and Derivatives Data Show Bearish Signs for BNB
- CryptoQuant data shows BNB’s Taker Cumulative Volume Delta (CVD) turned negative in early October. This means sellers dominate the market over buyers.
- The Futures Average Order Size for BNB is shrinking. This suggests smaller trades and more retail activity, which is a bearish signal.
- Coinglass reports BNB’s long-to-short ratio at 0.82. A ratio below 1 indicates more traders expect the price to fall.
BNB Price Outlook: Bears Target Levels Below $850
BNB faced resistance at a descending trendline on Tuesday and dropped slightly afterward. On Thursday, it trades near $866.90. If the downward trend continues, BNB may test support at $844.
The daily Relative Strength Index (RSI) is 42, below the neutral 50 level. This shows growing bearish momentum.
On the upside, a recovery could push BNB toward the 50-day Exponential Moving Average (EMA) at $933.53.
