*Title:* BNB Drops Below $650 - Lowest Since August! What Next?
*Post:*
BNB is trading around *$625 - $630* today, down *6-7% in 24H* and almost *-9% in 7 days* 📉
This is the lowest level since August 20.
*Why is BNB Down?*
1. *Binance Hack Aftermath:* Binance has now *completed the $6.34 Billion hack coverage* from 29 Oct. They paid users from SAFU Fund + Treasury. Good news, but market confidence is still shaky.
2. *Proof of Reserves:* Binance published new Proof of Reserves for 198 tokens, showing *100%+ backing*. But independent verification is still pending.
3. *Whole Market Down:* Bitcoin also fell below $70,000. So this is not only BNB, full market is in red. 1bced8f37cd1
*Technical View:* BNB is trading below all major moving averages. RSI is at *27.71 - Oversold zone*. That means sellers are tired, a small bounce is possible.
If BNB holds above $614, a bounce towards $655 is possible. A break below could open the door to $600.
✅ *Long-Term Perspective:* BNB is still trading 54% below its ATH of $1,369. In every past cycle, these deep dips have created the best accumulation zones.
My plan is simple: No panic selling. Patience + DCA = Profit in the bull run.