Binance’s Bitcoin Reserves Reach Two-Year High Despite Stable Exchange Balances
Binance has increased its Bitcoin reserves to a two-year high, holding approximately 693,000 BTC worth around $53 billion. This represents about 30% of all Bitcoin held on major exchanges and follows the SAFU fund's acquisition plan for additional BTC as well as users moving coins from self-custody devices after recent security concerns. Despite rising reserves at Binance, Santiment noted that overall exchange-held Bitcoin balances remained relatively stable throughout the summer. During this period, Bitcoin’s price fluctuated by nearly 40%, yet total on-exchange holdings only increased slightly—by about 3% or roughly 45,000 BTC since May. The data suggests that rising reserves at Binance may not indicate selling pressure but rather internal movements such as fund allocations and custody shifts. This highlights the limitations of using exchange balances alone to predict Bitcoin’s price direction.
Topics: Binance Bitcoin (BTC) Exchange holdings Santiment analysis