BNB Dips Under $860 as Traders Eye US Jobs Report
BNB dipped below $860 on September 1, falling from a late-August high near $900. The token traded between $849.88 and $868.76 before ending the session under key resistance. Daily active addresses on BNB Chain more than doubled to 2.5 million, while transaction volumes have declined since late June. Traders are positioning for US jobs data due this week, which could influence the Federal Reserve’s interest rate decision. Market odds currently price in a near 90% chance of a 25-basis-point Fed cut. Early resistance at $867–$868 proved strong, and support held around $850. High trading volumes peaked at 72,000 tokens during failed breakout attempts. These factors highlight increased BNB price volatility and network activity ahead of critical economic data.
Neutral
BNB’s drop below $860 reflects short-term profit-taking and cautious positioning ahead of critical US jobs data. On-chain activity surged, indicating sustained interest, but falling transaction volumes signal weakening trading momentum. Historically, major crypto assets often consolidate before key economic releases, leading to muted price action. The near 90% chance of a Fed rate cut supports potential upside, yet immediate volatility may persist. Overall, mixed technical and fundamental signals point to a neutral market outlook in both the short and long term.