BNB News: BNB Price Drops Below $860 as Traders Await U.S. Jobs Data and Fed Cut Signals

BNB extended its pullback on Monday, slipping below $860 after intraday swings failed to break resistance near $868, data from CoinDesk Research shows.The move comes after the token briefly touched an all-time high of $900 late last month but has since struggled to reclaim bullish momentum. Over the past 24 hours, BNB traded between $849.88 and $868.76, with heavy selling pressure emerging near the upper range.Despite the price weakness, underlying network activity surged. Daily active wallet addresses on BNB Chain doubled to 2.5 million, according to DeFiLlama. However, overall transaction volumes have steadily declined since late June, signaling a disconnect between wallet growth and actual network usage.Traders brace for Fed signalsBNB’s price swings are unfolding against a backdrop of global macro uncertainty. This week, U.S. manufacturing and services surveys along with August payroll data could shape expectations for the Federal Reserve’s September policy decision.The CME FedWatch tool shows a 90% probability of a 25 basis-point rate cut, while prediction market Polymarket assigns 82% odds. Lower rates could provide tailwinds for risk assets, but traders remain cautious ahead of the release.Technical analysis: key levels in playBNB’s attempt to rally from $860.30 to $868.08 was met with strong resistance around $867–$868, now established as a critical ceiling. Trading volume spiked to 72,000 tokens, well above the average of 54,000, signaling heavy participation during the failed breakout.After rejection, the token retraced to the $850–$855 zone, where buying interest emerged. A volume spike at $851.40 suggested strong demand at lower levels, keeping BNB anchored for now.