The Bitcoin reserves of Binance have recently risen to 693,000 coins, reaching a two-year high. According to the statistics from Darkfost, this amount accounts for about 30% of the BTC held by major exchanges.
By how much has the reserve increased?
Since the end of April, the BTC reserves of Binance have increased by approximately 77,000 coins. In the past few weeks, after the price of Bitcoin rose, some investors began to transfer their assets to exchanges, and as a result, the market is now paying attention to any subsequent selling pressure.
What is the market watching?
The report mentions that an increase in reserves does not necessarily come solely from selling preparations. SAFU plans to invest $1 billion to buy approximately 15,000 BTC, and the transfers after the ColdCard event could also contribute to raising the exchange's balance.
Why is the exchange balance important?
An increase in a exchange's Bitcoin reserves is generally seen as an increase in liquidity available for trading. If funds continue to flow into the exchange, the expected short-term selling pressure for BTC may also rise accordingly.
