Why is the BNB price up today?
BNB’s price standout performance today lacks a clear fundamental catalyst and is instead driven by macroeconomic factors and technical indicators
On June 5, BNB (BNB) price established a new record high at around $716 after rising 4.50% intraday and by over 14% in the last 24 hours. In doing so, the Binance native cryptocurrency outperformed the broader crypto market, which rose 3.5% in the last 24 hours.
There isn’t any clear fundamental indicator behind BNB’s price outperformance today compared to the rest of the crypto market. Instead, the cryptocurrency is drawing its bullish cues from macroeconomic and technical indicators.
The duration of BNB and, in turn, the crypto market’s recent gains coincide with declining U.S. bond yields.
BNB’s price standout performance today lacks a clear fundamental catalyst and is instead driven by macroeconomic factors and technical indicators
On June 5, BNB (BNB) price established a new record high at around $716 after rising 4.50% intraday and by over 14% in the last 24 hours. In doing so, the Binance native cryptocurrency outperformed the broader crypto market, which rose 3.5% in the last 24 hours.There isn’t any clear fundamental indicator behind BNB’s price outperformance today compared to the rest of the crypto market. Instead, the cryptocurrency is drawing its bullish cues from macroeconomic and technical indicators.The duration of BNB and, in turn, the crypto market’s recent gains coincide with declining U.S. bond yields.Read more