Analyst Backs Bitcoin and Monero Amid Market Despair
Alexander Good says he is long Bitcoin and Monero while shorting the S&P 500, as Binance hack proceeds weigh on sentiment.
Updated on Nov. 9, 2026 in Investing
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Analyst Alexander Good says Bitcoin and Monero remain the best bets amid market despair, detailing long crypto positions alongside short equity exposure in a post on X. The positions follow the Binance hack at the end of October 2026.
Why it matters
Good's public positioning reflects a view that crypto assets may hold up better than traditional equities during a period of market stress. The stance comes as the fallout from the Binance hack continues to shape sentiment across digital asset markets.
The disclosed positions are implemented through perpetual swaps and futures, with long exposure to Bitcoin, Monero and Brent crude and short exposure to the S&P 500, SpaceX, Tesla and Apple. The post does not disclose position sizes, entry prices or realized returns.
The players
Alexander Good
Alexander Good is an analyst who publicly discloses his trading positions and market views on social media.
Binance
Binance is a major global cryptocurrency exchange that was the site of a hack at the end of October 2026.
The details
In a post on X, Good wrote that Bitcoin and Monero remain his preferred holdings while he is short the S&P 500 through perpetual swaps. He attributes market despair to the Binance hack at the end of October 2026.
Timeline
End of October 2026: Binance hack occurred.
Before January 2027: A politically unpopular Iran strike is projected to weigh on stocks, according to the analysis.
When the new Congress convenes: Senate Democrats are expected to scrutinize World Liberty Financial and Trump's crypto holdings.
Market Dynamics
The positioning follows the Binance hack, where the hacker's roughly $1 billion in Ethereum holdings and about $1.2 billion in prior sales and swaps continue to shape sentiment. Remaining unfrozen funds of $3.58 billion, with 33% already sold or swapped, keep selling pressure in focus for digital asset markets.
Retail investors watching crypto volatility may weigh how the Binance hack's continuing asset sales affect their own holdings. Those holding Bitcoin or Monero exposure should consider how pressure from large holders could influence prices.
The takeaway
Market sentiment can shift quickly when large exchange-related holdings are liquidated, so investors may benefit from monitoring on-chain sales alongside traditional indicators. Diversification across asset classes can help manage exposure to such events.
What happens next
Senate Democrats are expected to scrutinize World Liberty Financial and Trump's crypto holdings once the new Congress convenes, a development that could bear on crypto market sentiment.
Further reading
Explore more on Investing to see how crypto and equity positioning fits into broader portfolio decisions.
Source note: This article includes information reported by Benzinga.
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