Binance Bitcoin Reserves Surpass $700K Amid Price Rebound

Bitcoin's resurgence in price has brought it back above $81,000, but a closer look at its reserves on Binance reveals a mixed picture. The exchange's Bitcoin reserves have surged to 702,900 BTC as of September 19, marking the highest level reached this year.

This increase has raised questions about whether the recovery is backed by enough spot demand. Higher exchange reserves are often seen as a bearish sign, as it indicates more Bitcoin could become available for sale.

Despite the rise in reserves, Binance's whale activity remains stable. The exchange has continued to record rising daily net inflows since late August, suggesting additional supply is moving onto the platform.