Binance’s BNB token has faced a significant price dip over the last few weeks. The coin has had no price change in the daily charts but is down 1.3% in the weekly charts, 5.5% in the 14-day charts, and 3.9% over the previous month. Despite the dip, BNB is up 120.8% since late January 2024.

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BNB In The Red Zone

BNB’s latest dip follows the general market’s lackluster performance. Bitcoin (BTC) continues to trade at the $104,000 level. The global crypto market cap has dipped 1.8% in the last 24 hours to $3.69 trillion.

The dip is likely due to investors putting their money in safer assets as the US dollar gains strength. The Federal Reserve paused interest rate hikes but is yet to announce a rate cut. The Fed has announced only two interest rate cuts in 2025 instead of three. The move may have hurt crypto investors’ sentiment. BNB and other assets are likely suffering due to this development.

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New All-Time High For The Asset

Binance’s BNB hit an all-time high of $788.84 on Dec. 4, 2024. The asset’s price has fallen by more than 14% since its December 2024 peak. Although BNB has struggled to gain momentum over the last few weeks, the asset is predicted to rally over the next few months.

According to CoinCodex, BNB will break into a rally over the next few months. The platform anticipates the asset to breach the $1000 mark in early April 2025. CoinCodex predicts BNB will hit a new all-time high of $1069.21 on April 26, 2025. Hitting $1069.21 from current price levels will entail a rally of about 57.84%.

There is also a possibility that BNB will instead face a correction. Investor sentiment could take a hit if the Fed does not announce an interest rate cut soon.

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