BNB has fallen below $700, and I think it may be time to start buying the dip in stages.

The reasons are simple:

1. Although Binance’s security incident was serious, it handled the situation quickly. Covering the losses itself, replenishing reserves, and restoring withdrawals at least show that it can weather a crisis.

2. BNB’s drop below $700 has already reflected short-term panic and outflows in its price. As long as confidence gradually returns, there’s room for its valuation to recover.

3. The U.S. midterm elections are about to wrap up, easing political uncertainty. Historically, U.S. stocks have generally performed well after elections. If risk capital starts flowing back in, crypto could also have a chance to rebound.

I’m inclined to think that this BNB decline is mainly due to a short-term shock to confidence and liquidity pressures. For now, there isn’t enough evidence to suggest that its long-term fundamentals have deteriorated.

Its ability to handle a crisis has been demonstrated. Now it’s a matter of when the market starts pricing it in again.

Below $700, I’d consider buying spot in stages, without using leverage.