2025 has been a harsh start for the cryptocurrency market. Despite a pro-crypto administration in the US, the market has struggled to gain momentum. The crypto market faced its most significant correction over the last few days. Binance’s BNB token has fallen 2% in the daily charts, 5.2% in the weekly charts, 12.9% in the 14-day charts, and 9% over the previous month. Despite the recent losses, BNB has rallied more than 54% since February 2024.
Also Read: De-Dollarization: 3 Countries Dumping The US Dollar Faster Than Ever
Cryptocurrencies Take A Back Seat Amid Investor Worry
The latest crypto market correction comes after the US government said they would go ahead with the tariffs against Canada and Mexico. The tariffs aim to combat trade deficits and illegal border crossings. BNB and other crypto assets took a big hit after the announcement. Investors most likely anticipate a negative impact from the tariffs.
Also Read: VeChain Falls 35%: Here’s Why You Should Buy The Dip
The Bybit hack from last week likely further hampered investor confidence. Attackers stole nearly $1.4 billion worth of crypto assets from the popular exchange.
Can Binance Coin Hit $750 In March 2025?
According to CoinCodex, BNB will consolidate over the next few weeks before rallying by the end of March. The platform anticipates BNB to climb to a new all-time high of $798.24 on Mar. 31. The asset will rally by 29.8% if it hits the $798.24 target.
The platform does not expect BNB’s price to stop at $798.24. CoinCodex predicts BNB will eventually breach the $1000 mark this year. The platform anticipates BNB to hit $1728.98 on May 13. The asset will rally by 181.15% if it hits the $1728.98 target.
Also Read: Nvidia’s Q4 Revenue Soars 78% to $39.3B as AI Demand Explodes
There is also a possibility that BNB will not hit the predicted target. The crypto market is yet to recover from its losses. Macroeconomic factors may also present considerable challenges.
