BNB Struggles at $654 as Israel-Iran Conflict and U.S. Rhetoric Fuel Crypto Volatility

Binance Coin (BNB) is stuck beneath a pivotal $654 resistance, slipping after an intraday push to $655. The pullback echoes wider market anxiety sparked by escalating Israel-Iran hostilities and former U.S. President Donald Trump’s call for Tehran’s “unconditional surrender,” remarks that intensified risk-off sentiment across digital assets.

Prediction market Polymarket now assigns a 61% probability to U.S. military action in the region this month, climbing to 69% for next month, reinforcing the geopolitical overhang. Yet pockets of optimism persist: the U.S. Senate’s bipartisan stablecoin bill is viewed as a major step toward regulatory clarity, while ongoing corporate bitcoin accumulation continues to underpin broader crypto demand.

CoinDesk’s technical model shows BNB compressing inside a 2.5% 24-hour range between $637 and $654. Sellers have repeatedly defended the $653.5–$654 zone, confirmed by volume spikes each time price tests that ceiling. Conversely, robust buy interest surfaced at $638—the session’s highest-volume print—creating a near-term support shelf. Since tagging a $637 low, BNB has carved three successive higher lows, hinting at a nascent double-bottom pattern and tentative accumulation.

Traders are watching the $640–$638 band; sustained closes above this floor would keep bullish hopes alive for a breakout, but a decisive dip below $637 could open room for a deeper retracement. To flip momentum, bulls must reclaim $654 with conviction and extend toward psychological hurdles at $660 and $670. Until either level yields, expect choppy consolidation as macro headlines and on-chain flows joust for control.

At press time, the CoinDesk 20 Index is flat on the day, underscoring how BNB’s price action—caught between geopolitical shockwaves and improving U.S. policy optics—remains a key sentiment barometer for the altcoin sector.