CryptoWorld Network news reports that CryptoNews says that after BNB’s price pulled back from recent highs, it is now testing a key support level. According to data, BNB traded near $592 on June 5, after briefly touching this year’s low of $573 earlier. Since the recent high of $740, BNB has fallen by about 20%. Deteriorating market sentiment and weak technical indicators have led to large-scale liquidations, with more than $1 billion in crypto futures liquidations in the past 24 hours. At the same time, U.S. spot Bitcoin ETFs have also experienced a record 13 days of fund outflows, with approximately $4.4 billion leaving these products. BNB’s key support zone is around $570; if it breaks below that level, it may further test the $550 low.

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