Binance BTC Reserve Surge: What Does it Really Mean for Bitcoin Price?
Binance's Bitcoin reserves have reached a two-year high, but this news is not necessarily alarming. According to Santiment, exchange balances were unreliable indicators of price movements throughout the summer.
The increase in Binance's BTC holdings began after its SAFU fund announced plans to acquire 15,000 BTC as part of a $1 billion allocation. This purchase went directly into Binance's reserves. At the same time, some Bitcoin holders moved coins from self-custody devices to exchange wallets for security reasons following the ColdCard hardware wallet incident.
Binance added around 77,000 BTC since late April, pushing its total reserves above 693,000 BTC. This is roughly 30% of the Bitcoin held across major exchanges. In contrast, the total Bitcoin supply held on exchanges has risen by about 45,000 BTC since May.