Since the SEC filed a lawsuit against Binance on June 5, the market capitalization of BNB has decreased by over $7 billion. BNB has dropped almost 15% this week due to the impact of the lawsuit. The SEC has requested that Binance's U.S. assets be frozen worldwide, which could force the exchange to repatriate customers' fiat currency and crypto assets.

Despite the potential risk, technical analysis suggests that BNB may experience a short-term bounce, with a potential upside target of $280. However, the ongoing breakdown of a descending triangle pattern for BNB price suggests that it could drop towards $180 in 2023, down around 30% from current price levels.