Binance Bitcoin Reserves Soar Amid Price Rebound
Bitcoin's price has rebounded to above $81,000 after a significant surge in the broader crypto market.
However, this recovery is being met with skepticism as Bitcoin reserves on Binance have reached a new high of 702,900 BTC.
This increase in reserves raises questions about whether the current rally is backed by enough spot demand.
The data from CryptoQuant shows that this is the highest level of Bitcoin reserves on Binance since September 19.