Below $3,950: Gold (XAU) hits one-year low as Bitcoin (BTC) slumps to six-week low | Outlook

• $77,000: Bitcoin tests six-week lows, falling for a second consecutive day following the Binance security breach.
• Below $3,950: Gold retreats as selling pressure compounds its deteriorating technical outlook.
• $6.3 billion hack reported by Binance; $3 billion frozen with blockchain partners.

$77,000 is in focus as Bitcoin (BTC) approaches a six-week low on Friday. Selling persists across the cryptocurrency market following Binance’s report of a $6.3 billion hack. Sentiment remains under pressure from the security breach. Bitcoin has now fallen for two straight days, with crypto liquidations totalling $1.5 billion over 24 hours reflecting the pressure.

Below $3,940, Gold (XAU/USD) is testing its one-year low as its decline extends. Risk aversion remains widespread after the Federal Reserve (Fed) kept interest rates within the 3.75-4.00% range.

Concern about persistent inflation was voiced on Wednesday by Fed Chair Kevin Warsh. He said there had been “essentially no progress” towards the central bank’s 2% target and reiterated the Fed’s commitment to restoring price stability.

In emailed commentary, Vladimir Tikhomirov, founder of Theorem and co-founder of Algebra, said: “I view the Fed’s decision to keep rates unchanged as something the market had largely expected. And, although some may interpret this as a sign that the tightening cycle is over, I wouldn’t say the pause marks its end. Inflation is still high,” adding, “So the possibility of another rate increase in December is something the market has to account for.”

$6 billion affected by Binance breach as recovery work continues

Roughly $6.3 billion was reportedly affected by the security breach at Binance, the largest cryptocurrency exchange. The company temporarily halted deposits and withdrawals to give it time to conduct an internal investigation and review.

A DevOps engineer’s laptop may have been compromised, according to Binance. This may have given the attacker entry to a container service through which unauthorised withdrawal transactions were submitted.

On X, Binance stated: “We have found no evidence of any wallet private key leak.”

Approximately $3 billion has been frozen on-chain through Binance’s work with blockchain partners, including Tether, Circle and Ripple, according to updates from the exchange.

User assets remain safe, Binance has stressed. It says all losses will be covered by its Secure Asset Fund for Users (SAFU) programme together with company assets.

Alongside the halt to withdrawals and deposits, Binance revoked authorisation for the affected address. It also collaborated with law enforcement and blockchain partners to track and recover the funds.

A 162% annual increase is indicated in The Chainalysis 2026 Crypto Crime Report, underscoring the continuing challenge of crypto-related scams and fraud as the industry matures. On-chain theft through cryptocurrency scams reached $14 billion, while AI-enabled schemes jumped 1,400% annually.

In written commentary, The Hashgraph Group CEO, Stefan Deiss, said: “The sheer scale of this hack makes it look like a one-off, but it isn't. AI is helping attackers find weaknesses faster than companies can fix them, and attacks like this are becoming more common, not less,”

$77,310: Bitcoin technical outlook points to further downside risk

At $77,310, Bitcoin retains a bearish short-term bias. It trades below the 100-day and 50-day Exponential Moving Averages (EMA), at $77,811 and $80,581 respectively. The broader uptrend nevertheless appears intact despite the pullback, with the pair still above the 200-day EMA at $76,476. Negative Moving Average Convergence Divergence (MACD) readings reinforce the downside bias as momentum fades. Meanwhile, the Relative Strength Index (RSI) has eased towards oversold territory at 34.

The 100-day EMA near $77,811 provides the first resistance level. A tougher hurdle follows at the 50-day EMA around $80,581, where a rebound could encounter renewed selling. On the downside, the SuperTrend line at $84,056, previously a bullish trigger zone, marks deeper demand. More immediate trend support sits at the 200-day EMA of $76,476. A daily close beneath it would likely prolong the downward correction.

$3,941: Gold technical outlook remains under sellers’ control

At $3,941, Gold maintains its bearish bias, trading well below its short-, medium- and long-term exponential moving averages (EMAs). Overhead resistance comes from the 50-day EMA at $4,186, the 100-day EMA at $4,258 and the 200-day EMA at $4,273.80.

Rallies face a further constraint from the Parabolic SAR at $4,083. The MACD is declining within negative territory, signalling that downward pressure may persist. With the RSI at 33, just above oversold territory, the sell-off looks stretched. Even so, sellers retain control of the short-term trend.

Near $4,032, the break level of the descending resistance trendline marks the first upside hurdle. Next comes the Parabolic SAR ceiling at $4,083. Beyond that, the 50-day EMA at $4,186, 100-day EMA at $4,258 and 200-day EMA at $4,274 create a concentrated supply zone likely to constrain any corrective rebound.

With no clearly defined structural support in the dataset, the recent low near current prices provides the immediate downside reference. Momentum indicators still favour sellers, so a sustained move below $3,941 would likely pave the way for additional losses.

(The technical analysis of this story was written with the help of an AI tool. Know more.)