The BNB cryptocurrency reached a new historical maximum (ATH) of $ 969.
If the Fed cuts the interest rates, BNB would have the impulse to cross the goal.
BNB, the cryptocurrency of Exchange Binance, reached a new historical maximum (ATH) of $ 969 and thus approaches the target of crossing the threshold of $ 1,000.
At the time of publication of this note, The BNB Smart Chain network currency is negotiated in $ 952as observed in the following graphic provided by TrainingView:
The reason behind this price increase is that Binance I would be in conversations with the United States Department of Justice (DOJ) to eliminate the supervision imposed by the authorities within the framework of the agreement reached in 2023, in accordance with Reports Bloomberg.
At that time, Binance accepted a historical agreement with the DOJ to close an investigation for regulatory breaches and money laundering, as Cryptonoticia reported. As part of it, Changpeng Zhao resigned from his CEO position and the company paid a sum of 4.3 billion dollars.
It should be clarified that this supervision consists in the presence of an external monitor, an independent supervisor in charge of reviewing the internal operations of the company to ensure that it complies with the rules of money laundering, sanctions and transparency prevention.
In this context, BNB now points to the $ 1,000 mark. More than a simple price level, It is a psychological resistance that arouses great expectation among investors.
However, as it approaches that figure, it could also be transformed into an earning zone that puts a brake on the upward trend.
But why does this happen? Because BNB moves in an unknown terrainwithout previous references of supports or resistances that guide the market.
The catalyst could appear on the afternoon of September 17, at which time the United States Federal Reserve (FED) will announce whether or not to cut interest rates.
Market expectations are high and suggest that the agency chaired by Jerome Powell will make a reduction of 25 basic points, which would place the types at 4-4.25%. If this occurs, the cost of indebtedness will also lower and, therefore, there will be more liquidity in the system.
When the rates lower, investors usually place their holdings in risk assets, such as cryptocurrencies, to seek greater yields, despite the volatility to which they are exposed.