BNB Price Climbs in Strong Rebound as Trump-Musk Spat Uncertainty Fades

BNB, the native token of the Binance ecosystem, staged a swift comeback after a jolt of market turbulence rattled the broader crypto market. The coin rose more than 4% from this week’s low and is up around 0.7% in the last 24 hours, reversing from a dip to $631 to around $657 after forming a textbook V-shaped recovery pattern, according to CoinDesk Research’s technical analysis data model. The rebound came as the uncertainty associated with a flare-up between U.S. president Donald Trump and Tesla CEO Elon Musk that triggered a sell-off for risk assets started fading. BNB Chain’s fundamentals have been improving. Daily active users jumped 26.4% to 1.2 million, while revenue in Q1 2025 grew 58% from the previous quarter to $70.8 million, according to a Messari report . Technical charts show BNB hit resistance around $657 after heavy buying at the $650 level. A critical pivot now lies at $654, with traders eyeing U.S. inflation data, due to be released this Wednesday, for cues on the next move. Meanwhile, Binance is leaning into innovation. Its June 9 hackathon opened new tracks in decentralized science and physical infrastructure. 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 .

Source: CoinDesk