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Binance Bitcoin Reserves Soar as Price Struggles to Gain Momentum

Guavy AI Editorial Team
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Bitcoin's price continued to hover above $77,000 on Saturday but struggled to gain momentum.

The world's largest cryptocurrency was trading at $77,346, up 0.45% from the previous reading, with a market value of around $1.55 trillion.

Rising Bitcoin reserves on Binance have raised concerns about possible selling pressure, with the exchange now holding over 693,000 BTC, the highest level in two years.

On-chain analyst Darkfost estimates that Binance has added approximately 77,000 BTC to its reserves since late April, accounting for around 30% of Bitcoin held across major trading platforms.

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