* $6.34B+ in company funds were set aside to cover the losses. * BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are now 100% backed. * Binance will absorb the financial impact, not its users. * The remaining 10% consists of less liquid tokens that may take longer to acquire. * Withdrawals are still on track to resume on November 1.
Binance is also updating its Proof of Reserves, allowing users to independently verify the backing of their assets once the full proof is generated.
The important thing here is that Binance isnโt just making promises. Theyโre showing measurable progress toward covering the losses.
Cant believe Gold topped the very next day after I shared my analysis saying a top was near. ๐ฌ
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A Look at Goldโs Past Cycles โ Is the Top Near?
Everyoneโs talking gold right nowโฆ so I decided to check how it performed in past bull cycles and found something really interesting.
Gold has never moved in a straight line forever. It moves in big waves. A long time going up, then many years doing nothing or going down. When we look at history, gold follows the same behavior again and again a strong bull run, then a long cooling period. 1st Major Bull Cycle (1970 โ 1980) Duration: ~10 years
The first big modern gold bull run started around 1970. This was when the U.S. removed the gold standard and money printing increased. Inflation fears were high and people were scared about the economy. Gold slowly turned into the safe asset. Over the next 10 years, gold made an insane move from around $35 to nearly $850 in 1980. That was a huge run. Everyone believed gold could only go higher. But after that peak, gold didnโt keep going up. Gold Bear/sideways Market
It entered one of the longest painful periods in its history. From 1980 to 2001 almost 21 years gold either fell or moved sideways. People lost interest. Stocks became more attractive. Gold went from hero to forgotten. 2nd Bull Cycle (2001 โ 2011) Duration: ~10 years
Then another big cycle started around 2001. This bull run again lasted close to 10 years. It got stronger after the 2008 financial crisis when banks were collapsing and governments started printing money. Fear came back, and so did gold. Price went from around $250 to nearly $1900 by 2011. Just like before, people believed gold was the safest thing forever. Gold Bear/sideways Market
History repeated. After 2011, gold entered another weak phase. From 2011 to around late 2015, price corrected hard and mostly moved sideways. It dropped near $1050 at the bottom. During this time gold became boring again and many investors shifted attention elsewhere. The current cycle This is where it gets interesting the current bullish cycle duration so far: 2026 โ 2015 = about 10โ11 years
Started around December 2015. That was the real bottom where gold stopped falling and slowly began trending up again. But the move was calm and steady in the early years. The big acceleration came after COVID in 2020, when money printing exploded, global uncertainty increased, wars started, currencies weakened, and central banks began buying gold aggressively. Thatโs when gold shifted from a slow uptrend into a powerful bull phase. So now letโs talk about time because time matters a lot in cycles. The first major bull cycle from 1970 to 1980 lasted around 10 years. The second big bull cycle from 2001 to 2011 also lasted close to 10 years. Now look at the current one. If we count from the real bottom in 2015, we are already about 10 years into this cycle. That is very important. Even though the explosive move started after COVID, the bull market itself began earlier. And historically, goldโs big bull cycles tend to mature around this time length. This does not mean gold must crash tomorrow. The last phase of a bull market is usually the fastest and most emotional. In 1980 gold went almost vertical before topping. In 2011 the final move was also aggressive before the long correction started. Cycles often end like this: first a slow healthy uptrend, then a strong trend with pullbacks, and finally a fast, almost straight-up move driven by fear and FOMO. Right now gold is in that strong acceleration stage. Media coverage is rising. Central banks are buying. Retail investors are entering. Uncertainty is high. These are conditions often seen in the late stage of a bull cycle. So based on historical duration, this cycle is no longer young. In fact, time wise it is already near the length where previous gold bull markets matured. That means the window for a late stage run could be happening this year or maybe next year rather than many years ahead. Now comes the big question, am I saying this is the last leg of gold? Not with 100% certainty. But looking at the duration of the cycle and how behavior changes near the end, it is very possible we are closer to the final stage than the beginning. Gold has already been trending up for years. Price is moving faster. News channels talk about gold daily. And the biggest signal? Even โmango peopleโ who never followed markets are rushing to buy gold because they think it is the safest place. That is usually how the final stage looks. Price goes vertical. Fear in the world is high. Everyone believes gold can never fall. But history shows this is often when smart money becomes careful, not excited. Gold can still go higher. The trend is still strong. But cycles matter. And gold bull markets donโt last forever. After every big gold party, there has always been a long quiet or painful period.
Read my last update on it and see how I discussed both the technicals and fundamentals.
Technically, it was in a clean downtrend and had already broken its last daily low. I said there was nothing good to see unless it reclaimed at least $1,500.
On the fundamental side, I also discussed the concerns around AI spending, rising memory prices, and whether the massive investments in AI will actually translate into sustainable earnings.
Both sides were pointing toward caution.
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SNDK
I stopped paying attention to stock charts when crypto came back to life.
SNDK is in a clean downtrend and has broken the last daily low as well. As long as price doesn't reclaim $1,500, I don't see anything good on this chart.
I think AI stocks might take a lot longer to deliver the kind of moves we saw earlier this year. The hype is fading, memory prices are going up, and AI labs are spending far more than they earn.
Anthropic's reported $80.7B loss this week also made headlines, but most of it came from an accounting charge, not purely from operating losses.
AI isn't going anywhere, but that doesn't mean AI stocks will keep pumping at the same pace. I'd rather wait for better setups than chase the hype.
$BTC This is where you want to see some reaction on Bitcoin. Not sure how price will react with so much macro pressure (Stocks, commodities dumping) but technically, this is where you want to see some reaction.
I shared this level 15 days ago and have talked about it in almost all of my higher timeframe updates.
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Above the $84K highs, or around that zone if the market continues to dip. These are the only two setups I like for the bulls. Anything in between is just chop.
If we compare crypto with the stock market right now, the reaction from crypto isnโt actually that bad, considering how much negative news weโve had lately.
Look at how the stock market is bleeding, the earnings weโve seen from Google, Intel, and others, and how AI stocks are selling off.
On top of that, the worldโs largest crypto exchange has been hacked.
Considering all of this, crypto is actually holding up relatively well.
I think the most important thing right now is to observe how the market handles all this negative news. Do we continue to see weakness, or does the market start showing strength despite everything thatโs going on?
At this point, this is far more important than buying the dip.
If the market can show strength despite all these negative catalysts, buying that strength is a much better approach than blindly buying just because the price looks cheap.
There will always be countless reasons to buy if the market starts showing strength when thereโs so much going on in the world and across the crypto space.
But for now, I think waiting for the right opportunity and observing how the market reacts is far better than rushing into a position.
* Bad earnings from Google, Intel and others * Binance wallet hacked * Oil prices ripping * AI stocks dipping hard * Polymarket hacked * Possible rate hike next month * Bond market meltdown * Tensions in Iran worsening
The market is getting hit from every direction Is there anything else left to go wrong?
Binance wallet reportedly hacked, should you panic?
Binance is not a small exchange. They have partners, investors, and the resources to handle situations like this.
For context, Binance had around $165B in tracked reserves in CoinMarketCapโs October report. Its tracked public reserve wallets also held over 623,000 BTC as of October 27.
Around $2B in USDT and USDC has already been frozen.
We saw a similar hack with Bybit, Bitget and they managed the situation. Binance is even bigger.
There is no need to panic. Your funds could be safe, but your positions may not be as we dont know how the market will react (so far it is bad)
Look around, understand what is happening, and think about what could happen next. Assess the situation before you get panic.
The Blockchain 100 results are out, and we made it to the list of winners! ๐โค๏ธ
I can't tell you how emotional I am right now. Not just because we won, but because of the amount of love and support you guys have shown me throughout this voting journey. Every vote, every post, every message, and every single effort you guys made for me means more than you can imagine.
I honestly can't thank you enough for standing by my side and supporting me all the way through.
I'll continue doing my best to add value to your trading journey. Thank you for everything. โค๏ธ
$ETH High Timeframe View The weekly chart still looks fine as price is holding well above the $2000โ2100 zone. But lower timeframes are starting to look meh after price broke below the lows.
Bulls need to quickly reclaim the $2380 zone to avoid a deeper pullback.