Bitcoin sinks toward $62,000, dragging crypto down with it. Binance insolvency rumors spread.

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Bitcoin’s selloff is bigger than one Binance rumor. U.S. spot Bitcoin ETFs lost $1.91 billion in seven trading days. More than $1.2 billion in leveraged crypto positions were liquidated in 24 hours, most of them bullish bets. Once Bitcoin broke below $70,000, forced selling accelerated. Ethereum, Solana and XRP followed.

Binance does have a serious problem. A security breach on October 29 involved roughly $6.3 billion in stolen tokens. Withdrawals were restricted and are reopening in stages. Binance says it has covered 95% of the stolen assets, published new reserve data and plans to restore remaining withdrawals by the end of next week. That is a real crisis. It is not proof the exchange is insolvent.

The pressure goes beyond crypto. Hot U.S. inflation, a surging dollar and Treasury yields near 5% have hit both technology stocks and precious metals. Gold has fallen below $3,900, while silver has taken an even harder hit. Nvidia’s leadership turmoil and the retreat from AI investments have added to the risk-off mood. This looks like a broad retreat from risk, with crypto leverage turning the decline into a rout.

https://finance.yahoo.com/markets/crypto/articles/bitcoin-drops-below-65-000-212800178.html

https://www.reuters.com/legal/government/binance-targets-full-reopening-withdrawals-by-next-week-2026-11-14/

https://www.binance.com/en/support/announcement/detail/0729ad59cde74700b4eaa96c33441e71

https://www.coindesk.com/markets/2026/11/13/bitcoin-hits-12-week-low-as-dollar-rallies-on-interest-rate-outlook-liquidations-top-usd1-6-billion

https://www.kitco.com/news/article/2026-11-13/gold-posts-steep-weekly-loss-treasury-yields-rise-fed-tightening-bets

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